Monday, May 4, 2009

Getting a loan

I know the media is pretty good about reporting how bad the economy is doing and "no one" is lending.

I have worked on over 17MM in loans this month and find the banks willing to lend...just not at the same crazy standards they were using in 2005 (got a pulse - great you are approved!). I am seeing LTV's in 60-75% range with the key being what exactly is the value today. This is where my company helps by assisting lenders review specific assets for a specific loan. In many cases it is not pretty. The fact is there is not much a bank or anyone can do when the borrower owes or wants to borrow 10MM for a 2MM asset - which is all too common these days. That is how I see things from where I sit.

If you have a question about lending, asset valuation or development in general, drop me an email dave@keystonellc.net

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