Borrowers

Use Your Deposit Relationship

If you need a commercial real estate loan, and commercial real estate lenders are not falling all over themselves in their rush to lend you the money, you can sometimes use the promise of a deposit relationship to get the bank's attention.

In order to have money to lend, banks need deposits. Most businesses have a significant amount of money running through their accounts as they make sales and receive payments from their customers. Such an account is valuable to a bank because on average you could be maintaining a fairly decent average daily balance, even if you're not making a lot of profit.

If you apply to your own bank for a commercial real estate loan, and they turn you down, you should consider moving your accounts. You should find a small bank located close to your office, a bank close enough to be convenient. Then arrange to sit down with the bank president (branch manger) and tell him your story. "I need a commercial real estate loan,and if you make me the loan, I will permanently move all of my business (and personal) accounts over to your bank."

A small bank will appreciate having the additional deposits, and they could very well approve an "iffy" commercial real estate loan, if they believed that you would indeed leave your deposits there permanently.


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