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From: Cathy Baxter


Hi

Looking for a lender who will finance a commercial loan for "accommodation" business.
So far had 2 knockbacks - 1. because the lender had no branch in our city, 2. because their policy was to lend P&I on majority of loan therefore eating into our profit.
We want to refinance because of lower interest rates, majority of current loans are IO, we are currently paying 8.92% - way too high in the current market.

Money seems to be tight at the moment - 2 major lenders knocking back an accommodation business with great repayment history and increasing income.

Anyone got any ideas on commercial lenders who have money?

Ta

Cathy
 
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commercial finance

Reply: 1
From: Cathy Baxter


Hi

Also forgot to put a topic in and we reckon they are BSing us - no valuation or business plan asked for.

Cathy
 
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