What Went Wrong with Small Business Lenders? (business website templates)

November 27th, 2009 admin Posted in finance |

By Garrett36 Pierson36

The process of finding what went wrong with commercial lending and small business financing is designed to help business owners avoid serious future problems with their working capital loans and commercial mortgages. Especially if they need help finding realistic small business finance options, this is a critical issue for most commercial borrowers. Business owners should be prepared for the banks and bankers who caused the recent financial chaos to say that nothing has gone wrong with commercial lending and even if it did everything is back to normal. It is hard to imagine how anything could be further from the truth. If small business owners and commercial lenders choose to ignore the many mistakes made by business lenders, as noted in a popular phrase we may be doomed to repeat these mistakes.

For many of the most serious business finance mistakes made by lending institutions, greed is a common theme . An attempt to produce quick profits and higher-than-normal returns had unsurprisingly negative results. The bankers themselves seem to be the only ones surprised by the devastating losses that they produced. The largest small business lender in the United States (CIT Group) declared bankruptcy after two years of attempting to get someone else to pay for their mistakes. We are already seeing a record level of bank failures, and by most accounts many of the largest banks should have been allowed to fail but were instead supported by artificial government funding.

There were many instances in which banks failed to look at cash flow when making loans or buying securities such as those now referred to as toxic assets. A stated income business loan underwriting process was used for some small business finance programs in which commercial borrower tax returns were not even obtained. Lehman Brothers was one of the most aggressive commercial lenders using this approach, and they filed for bankruptcy last year due to this as well as other questionable financial practices.

Bankers obsessed with generating quick profits frequently lost sight of a basic investment principle that asset valuations can decrease quickly and do not always increase. Many commercial loans were made in which there was little or no equity by the business borrower. When buying the future toxic assets, banks themselves invested as little as three cents on the dollar. The erroneous assumption by banks was that any downward change in value would be limited to about three percent. In fact we have now seen many commercial real estate values decrease by 40 to 50 percent during the past two years. For banks which made the original commercial mortgage loans on such business properties, commercial real estate is proving to be the next toxic asset on their balance sheets. In contrast to the government bailouts to banks having toxic assets based on non-performing residential loans, it is unlikely that banks will receive similar financial assistance to cover commercial mortgage problems. Over the next three years it is currently projected that these growing commercial mortgage losses will pose serious problems for the ongoing survival of many business lenders. Despite ongoing concern and criticism about current reduced business lending activity, many commercial lenders have effectively stopped any meaningful small business financing.

An ongoing problem is illustrated by misleading lender statements about their small business financing activities. While many banks have reported that they are continuing normally with small business finance programs, by almost any standard the actual results indicate something very different. From a public relations viewpoint, it is clear that banks would rather not admit publicly that they are not lending normally. As a result of this particular issue alone, small business owners will need to be cautious and skeptical in their attempts to secure business financing.

There are some realistic and practical business financing solutions available to small business owners in spite of the questionable commercial banking practices illustrated above. The emphasis here is focusing on the problems rather than the solutions primarily because of the lingering notion by some that there are not significant current commercial lending problems. Most objective observers (which do not include politicians and lenders) are almost unanimous that the series of errors made by business lenders are likely to be long-lasting for business borrowers in their ongoing efforts to obtain small business financing.

Stephen Bush and AEX Commercial Financing Group specialize in business finance services and business loans. Steve provides small business financing options and working capital management advice.

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By eonlinedegrees

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Refinance Mortgage Rates To More Affordable Terms

By vikram kumar

When you take out a mortgage, you are taking out a very large loan that you will use to pay for a house. The process of applying for a mortgage will require a number of different steps and you will need to submit quite a bit of personal financial history before a rate will be determined for you. The mortgage that you end up getting will end up being based on the current rates at the time, which may not always be the most favorable. Later on, better mortgage rates may appear and you should consider doing debt consolidation by a refinance mortgage rates option.

If you take out a mortgage loan and later on the mortgage rates fall, you may want to refinance mortgage rates by taking out a new mortgage. With this new amount, you can pay off your old mortgage and then continue to pay on your mortgage with the latest prices which will give you much lower interest rates. This can end up saving you thousands of dollars over the years and will prove to be a profitable choice when you want to ensure that you are going to have money into your future. This can also be used for debt consolidation means, helping you to resolve any outstanding financial issues.

Debt consolidation can be important because mounting debts can start to loom. The interest rates on those debts will keep compiling and end up being more money than you should have to pay. If you instead refinance mortgage rates and use a lump sum to pay off all of your debts, you will only be left with one monthly bill and payment. This can take the pressure off of you to pay all of your bills and feeling more confident, you will begin to take control over your financial destiny.

You can find the best time to refinance mortgage rates when you use a website which will collect current rates on mortgages for you. By filling out one simple form with all necessary bits of information, mortgage companies can determine what their rate would be for a loan for you. If you are looking into debt consolidation, this can prove to be an extremely valuable resource because you will be given the ability to quickly and easily find the rate which is going to be affordable and the money which you get can solve all of your immediate problems.

The decision to refinance mortgage rates is also one which will help you to have more needed money in the future. It is never easy to struggle with all of your bills, as mounting debt is difficult to handle. Paying for a lower rate each month and having only one major bill will give you the freedom to take control of the direction of your finances. That will give you and your family much more freedom to do the things that you want, as the capital will be there once again. This decision could be one of the smartest financial moves which you could make.

Turn to Rate Sheet when you want to look into refinance mortgage rates options. This can be a great way to achieve debt consolidation and take care of your money troubles.

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