Commercial Funding

Our purpose in starting this blog is to provide businesses information on obtaining loans for commercial property. By way of introduction, our company is Spectracom Holdings. We have been in business for 16 years (since 1991). Our headquarters is located in Southern California and we have an office in the Seattle area. Our core focus is assisting commercial borrowers locate funds for commercial projects. Your blog authors are Jim McCune and Jon Miller. Our intent is to help you navigate through the commercial real estate lending market.

While the banking industry is an important source of capital, our clients find that there are often better sources for obtaining commercial real estate loans than a traditional bank or mortgage broker. The primary reason is usually speed. We are often able to quickly place commercial real estate financing proposals in front of decision makers and close within 2 to 4 weeks rather than the months required when working with traditional sources of commercial capital.

Another reason for working with a commercial loan officer is our knowledge as to which companies will fund the commercial project based upon their underwriting criteria. In the recent past, for example, we have been assisting a number of companies with land acquisition and development loans. Land acquisition and development loans have become more difficult to finance in the recent past. Depending upon the loan to value ratio (LTV), the loan amount, the location, and other facts and circumstances, we have several reputable sources for land acquisition and development. Your project will determine our strategy.

One key criteria for our acquisition and development lenders is entitlement. Is the land entitled? If the land is not entitled, the underwriting process for the acquisition and development loan becomes very difficult – not impossible. In this market, however, the land acquisition and development borrower can be well served by having an experienced commercial loan officer who has relationships with lenders that specialize in this area.

We look forward to providing information about our market in a public forum and hope you will call us if you have any needs. You can reach Jon Miller at (800) 525-1793 extension 12 and Jim McCune at (800) 525-1793 extension 15. Our main website is located at www.SpectracomFinancial.com.