Not All Major Banks Are Suspending New Loans
For better or worse, the coronavirus is shaping the market right now. Wall Street has seen its biggest one day drop in history as the Fed continues to cut rates to keep the economy moving.
Amid all this turmoil, many large institutional lenders have started to suspend lending on new deals. This could be troubling news if you have a loan that’s coming to maturity…
Fortunately, we have been talking to a major global bank that is taking on more deals and moving at lightning speed to get them executed. They firmly believe that the market will rebound and come back more robust, so they’re not hiding in the corners like so many other big banks.
With the current treasury rates, the lowest they’ve ever been now is the time to get your perm debt, and they want to see your deals!
We’re seeing rates as low as 2.5% for 30 years!
If you need perm debt on your commercial property, now is the best time in history to get your deal done. This group wants to see deals that fit the following criteria:
- Deal Sizes:
- $10M – $1B
- Up to 70% LTV
- 10 year fixed
- Negotiable recourse options
- Primary and secondary markets nationwide
- Flexible pre-pay
- Property types
- All types
If you have a deal that meets these criteria, then we should talk. Click here to contact us or shoot us an email at Justin@encapital.com.