Country Bank, a $450-million community bank based in New York City, has appointed Tim Moffett, Vice President, to lead its expanding SBA loan platform. Moffett has worked in Country Bank’s lending area for six years. The appointment was spurred by the bank’s increased participation in … [Read more...] about 9.23.10: Country Bank Ramps Up SBA Lending
Archives for 2010
9.17.10: U.S. Senate Passes Small Business Bill
The U.S. Senate approved legislation to cut taxes and ease credit for small businesses in a long-delayed victory for Democrats eager to show voters they are working to create jobs. If the U.S. House passes the bill as expected as early as next Wednesday, it would head to President Barack Obama to … [Read more...] about 9.17.10: U.S. Senate Passes Small Business Bill
9.13.10: JPMorgan Issues $485 Million in CMBS
JPMorgan issued $485 million in CMBS backed by 72 shopping centers owned by Centro Properties. The 10-year loan amortizes on a 30-year schedule and carries a 6.27% interest rate. The underlying loan included $89 million of subordinate financing. The largest allocated loan balance ($40.4 million) was … [Read more...] about 9.13.10: JPMorgan Issues $485 Million in CMBS
9.8.10: CMBS Delinquencies Accelerate in August
Loan delinquencies in commercial mortgage-backed securities accelerated in August after two months of slowing, according to Trepp LLC, New York. Treppwire reported CMBS loans 30 or more days delinquent, in foreclosure, or REO up 21 bp in August to 8.92% overall, following a 12 bp increase in July … [Read more...] about 9.8.10: CMBS Delinquencies Accelerate in August
9.3.10: SBA Loan Guarantee Premiums Soar in August
In August, short- and long-term SBA loan guarantee premiums soared to record high levels as uncertainty around the next phase of economic stimulus options continued to drive loan origination volume down, according to BoeFly. The BoeFly Loan Sale Index for 25-year Prime+2% increased 80 basis points … [Read more...] about 9.3.10: SBA Loan Guarantee Premiums Soar in August
8.30.10: CMBS Prices Continue Climb, Class AM Bonds Reach $100
CMBS prices continue to climb as a result of low Treasury yields and steady spreads. The bigger story, however, was the strength in AM and AJ bonds over the last five trading days including Friday, August 27, 2010. According to Trepp, Mezzanine AAA bonds (AMs) from 2005 and 2006 started to trade … [Read more...] about 8.30.10: CMBS Prices Continue Climb, Class AM Bonds Reach $100
8.26.10: Use HUD 221(d)4 Program for Multi-Family Rehab Loans
Many borrowers are facing a difficult time finding lenders interested in construction or rehabilitation loans right now. But multi-family owners with a need and desire to rehabilitate their multi-family properties are finding the HUD 221(d)4 program a viable alternative. “We direct clients with … [Read more...] about 8.26.10: Use HUD 221(d)4 Program for Multi-Family Rehab Loans
8.13.10: Business Owners Struggle as Lending Bill Stalls*
Rich Balka is hungry for capital. The Trenton, NJ entrepreneur whose company makes specialty rubber products, says he needs the money to buy raw materials, pay his workers and weather the last stretch of the recession. Balka’s sales fell 30% last year, forcing him to lay off one-third of his staff … [Read more...] about 8.13.10: Business Owners Struggle as Lending Bill Stalls*
8.11.10: SBA 504 Loan Interest Rate Drops Below 5% for Small Business Borrowers*
The Small Business Administration’s (SBA) 504 loan program is providing long-term, fixed-rate financing for the purchase of commercial real estate at one of the lowest interest rates since the program's inception. The SBA's lending partners, Certified Development Companies (CDCs), are busy working … [Read more...] about 8.11.10: SBA 504 Loan Interest Rate Drops Below 5% for Small Business Borrowers*
8.9.10: Demand Strong for Goldman’s CMBS Issue
According to Commercial Mortgage Alert, demand easily outstripped supply for the $788.5-million CMBS conduit issue from Goldman Sachs, Citigroup and Starwood Property that rolled out on August 4. The issue collateral consists of 23 mortgages secured by 40 properties. The majority of the collateral … [Read more...] about 8.9.10: Demand Strong for Goldman’s CMBS Issue