What Are Non-Conforming Loans?

Trevor Cole Commercial Corp. pic

Trevor Cole Commercial Corp.
Image: trevorcolecommercial.com

Trevor Cole Commercial Corp., Inc., specializes in providing small businesses and corporations a wide range of money-lending solutions, including non-conforming loans. Based in New York, New York, Trevor Cole Commercial Corp. serves clients throughout the United States.

Certain criteria qualify a potential borrower for an advance when applying for a loan at a bank. If they meet the criteria, which is outlined by government-sponsored agencies, they will secure what’s called a conforming loan.

If they do not meet those loan standards, another lending option includes what’s called a non-conforming loan. Typically granted by institutions that are not banks, non-conforming loans allow for individuals or companies with poor credit to obtain capital for the homes or projects.

They also enable those with excellent credit to secure capital with a higher limit, than that of conforming loans, enabling these borrowers access to greater loan amounts.

In contrast to conforming loans, non-conforming loans may not have as low of interest rates. These such loans may require underwriting guidelines that differ. However, Government-sponsored agencies do not back such loans. Moreover, may require larger down payments upfront, additional fees, and tougher underwriting rules.

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Collectors Can Obtain Loans Secured by Their Art

 

Art Loans pic

Art Loans
Image: trevorcolecommercial.com

Trevor Cole Commercial Corp works with commercial businesses and individuals to help them secure funding for a range of endeavors, including real estate development. Additionally, Trevor Cole Commercial Corp assists borrowers in obtaining loans backed by assets like collectible art and jewelry.

Collectible art is considered an asset. While the process of acquiring such pieces can be costly, the investments can fetch larger sums in the long run. Such assets can also be used to help fund various projects, like business and real estate investments, if the collector takes out a loan against the art.

For these reasons, there are banks and other lenders that provide small loans secured by collectible art. As part of the process of obtaining such a loan, insuring the art can protect both the lender and borrower in case of theft, damage, or default payments, should the lender allow the borrower to keep the art in their home while the loan is being repaid.

In most cases, these loans are only available to those with significant collections worth more than $1 million, although some companies specialize in short-term loans against art valued at lower amounts.

Proper Management of Accounts Receivables

Trevor Cole Commercial Corp. pic

Trevor Cole Commercial Corp.
Image: trevorcolecommercial.com

Trevor Cole Commercial Corp is a commercial structured finance company based in New York. Committed to offering a full range of services, Trevor Cole Commercial Corp advises clients on balance sheet assets and accounts receivables.

Accounts receivable management involves three things: assessment of the creditworthiness of potential customers, setting of suitable credit terms, and setting up efficient cash collection systems. This article will focus on the first two.

Before extending credit to a customer, a business owner must ensure the customer is indeed creditworthy. There are a number of ways to verify this. The first is a bank reference. Ask the customer’s bank to give a statement of fact on the customer’s creditworthiness. Another way is by asking another company that deals with the potential customer for a statement on creditworthiness. A credit reference bureau could give more detailed information on a customer’s credit history. If the customer is a company, check its most recent financial statements to get an idea of its total assets, loan book, and annual revenue.

If the customer is credit worthy and you give the person or entity credit, ensure the terms of the credit are clearly defined. This includes details such as the repayment period, discounts for early payment, the interest charged for late payment, and consequences of default. It is wise to have a credit limit for each customer. Do not give credit past this limit until a trustworthy relationship is established between the two of you.

Conforming Loans versus Nonconforming Loans

 

Trevor Cole Commercial Corp.

Trevor Cole Commercial Corp. pic

Trevor Cole Commercial Corp.
Image: trevorcolecommercial.com

Trevor Cole Commercial Corp. is one of the top loan closers on c-loans.com, which is the industries leading commercial real estate website. There are 750 companies on this site and Trevor Cole has closed more loans than virtually all of them.

You can simply input your commercial loan request, and the c-loan system will screen out what is perfect for your participating commercial real estate loan request. You can call banks, life companies, conduits, REITS and hard money lenders, or submit them electronically.

The site is free for brokers.

Maritime Lending

Maritime lending

Maritime lending

 

Maritime Lending is one of the more exotic forms of finance, and only a few lenders, such as the Trevor Cole Commercial Corp, are actually familiar with this area. Shipping involves unique risks to lenders, and even more to the popular imagination than are probably present. Ships are large vehicles that spend long periods of time traveling through expansive and unpredictable environments. Moreover, being mechanical in nature, things can and may go wrong with the ship creating its own problem(s). These same risks are present for other maritime investments, i.e. oil platforms.

All the above is to point out that, if one is going to try to get a maritime loan from a firm that does not have Trevor Cole Commercial Corp experience and does not already know the financial intricacies of this particular situation. Moreover, a significant amount of information and argument required to secure such loans. Even with lender experience in maritime finance, proof needs to be given high levels of credit worthiness, including cash on hand, substantial security for the loan, a long history of credit-worthiness, a strong prospect of success, and other details. Even then, these loans carry substantial risk, and interest rates will be high accordingly. Maritime projects present substantial expenses, and maritime financing is necessary to the industry’s function.