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NickRP
Joined: 27 Jul 2006
Posts: 4
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| Posted: Thu Jul 27, 2006 5:09 am Post subject: I need help with Special equipment loans |
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Ok i have a client that needs help refinancing a street sweaper, I am fairly new to the business and i need some help. does anyone know or recomend any lenders that are good with special equipment loans?
Thanks
Nick |
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Haplo
Joined: 20 Jan 2005
Posts: 2422
Location: Springfield, IL
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| Posted: Thu Jul 27, 2006 5:52 am Post subject: |
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Nick,
Pretty much everyone around here specializes in the residential mortgage side of lending. While I'm sure it could happen that someone could live in one, I don't think it would get through underwriting ;) |
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NickRP
Joined: 27 Jul 2006
Posts: 4
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| Posted: Thu Jul 27, 2006 5:22 pm Post subject: |
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| yeah i kindda figured that, i was just hoping that someone here might have delt with some of these types of loans and could give me some help. Thanks |
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chow
Joined: 22 Jan 2005
Posts: 2350
Location: Cornfield County, Indiana
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| Posted: Sun Jul 30, 2006 7:25 pm Post subject: |
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You might try brokering it to Associates or Household. What you need is someone who finances hard money and equipment wrap ups for commercial. You usually find those folks locally.
If you have any good contacts with other brokers who do hard money, or some of the lenders who may buy some of that paper-ask them. Call your commercail or national hard money lenders and ask the people who service you, who some of the players are in your area.
I know Eastern Savings and First Bank AZ, may have a few contacts to share. Most of those folks have a line through one of them, or sell to them. |
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NickRP
Joined: 27 Jul 2006
Posts: 4
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| Posted: Mon Jul 31, 2006 3:47 pm Post subject: |
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| Thanks! |
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chow
Joined: 22 Jan 2005
Posts: 2350
Location: Cornfield County, Indiana
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| Posted: Tue Aug 01, 2006 1:28 am Post subject: |
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I'm such a blonde- Call John Nichols at 317-243-8211. He buys and writes some of that paper. I don't know if he does it nationwide, but he may tell you who to call.
Tell him I said he needs to come to lunch at Exchange Club. I haven't seen him since he won the last 50/50 drawing! |
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iverson2k10
Joined: 13 Sep 2006
Posts: 5
Location: Providence
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| Posted: Wed Sep 13, 2006 5:21 am Post subject: |
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| nice |
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