According to today's Wall Street Journal (subscription required), lenders are once again asking for personal guarantees on commercial real estate loans.With a disappearance of the commercial mortgage-backed securities (CMBS) markets, bank lenders are returning to the recourse "loan and hold" model.
Underwriting is more thorough, advance rates are down, pricing is up and terms are tougher.
No personal guarantee and you're not likely to get the loan.
If the bank told you no and you need help finding the right hard money lender for a commercial real estate loan greater than $1 million, "Matchmaking for Business Loans" and give me a call!
Tags : commercial real estate , hard money loans
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