Damaged Credit

Credit Issues                        

As in residential lending, good credit is important. Your credit scores can affect the rates and terms that we are able to provide. Poor credit can even prevent us from acquiring the financing.

However, credit is only one part of the equation and one should not assume that credit issues alone will prevent acquiring a commercial loan. We,at Main Street, are expert at making difficult deals work.

A part of our consulting prcess is determining what our obstacles are and how we can work around these obstacles in order to accomplish the goals of our client.

Remember, Main Street and our lending partners specialize in hard-to-do loans.

Unlike the banks and other lenders, we do not 'cherry pick' our clients and choose to help only those in the top tier of commercial borrowers.

While we have products with competitive pricing and superior terms for all borrowers, we believe that everyone, including those with less than perfect credit, should have the opportunity to accomplish their goals in life.

We are expert in assisting credit challenged individuals and often are able to work with the buyers and sellers of real estate in structuring alternative terms and financing while the credit isues or down payment problems are being worked out.

Main Street can be a real estate broker's best friend in such circumstances.

Like them, our job is to make the transaction work.

Usually in commercial borrowing, the real eatate property and its ability to generate sufficient income to cover the financial obligation is of greater significance than the borrower's credit.

Since lenders never want a loan that might not be repaid, they evaluate each commercial loan as to whether the property will cover itself in case of default or whether the borrower has other properties or assets that would secure the loan.

Therefore, complete information regarding the real estate and it's ability to generate income is such an important part of the commercial borrowing process.

Main Street will work with you and/or your Realtor in gathering all the necessary documentation relating to the property.

Click here to begin the application process, or click here to contact us and discuss your situation.