There are many loan companies available to assist you in funding your commercial loan request; however, not all of these loan companies are created equally. Be careful and cautious when choosing your advocate. We have found a lot of business "posturing" in the industry. When we say "posturing," we mean businesses who make promises that they never can deliver. It is better for a borrower to hear the truth than to be told what they want to hear.
Some bankers and brokers will tell borrowers what they want to hear in an effort to pull in a deal and keep the borrower from shopping the competition. This is known as a "bait and switch" tactic. You would be surprised how often this occurs in commercial lending from both non reputable and reputable companies. It is best to have the right expectations from the start.
In any case, borrowers need to keep in mind that commercial lending is a "buyer beware" market. Be careful who you choose to be your business advocate as a loan company. Base value on results not mere promises. Take the time to do your due diligence with any loan company. Preparation is a key element to a successful commercial loan request.