Chicago, IL -- (ReleaseWire) -- 03/26/2014 -- Rehab loans or the so called "Fix and Flips" are back and construction lenders are hungry to fund small and large real estate developers at 80% LTC. Multifamily cash out rates are below 4.0% with 30 year amortization, and SBA lenders are ready and willing to fund.
"Multiple lenders are calling me daily to see if I have more deals for them to fund. Recently, one of my clients whose loan has matured with his previous bank was sitting in my office, while I was negotiating his bridge loan offers that we needed to fund in 7 days. He said that watching me work with the lenders was like Commercial Lender Hunger Games" said Michael Pechony, owner of Anchor & Anvil, a Chicago based commercial lending firm.
In the past 12 months this boutique debt placement firm has arranged numerous funding for rehab loans, non-recourse multifamily CMBS debt, bridge loans, financing for restaurants, auto service shops, dental offices, NNN, workout refinance of matured loans, SBA 7a, SBA 504, and the list does not stop there.
Anchor & Anvil does not have a loan amount floor so a $50,000 commercial loan request receives the same level of attention as a $2,000,000+ financing opportunity. Michael Pechony says, “Business breeds business...”. This one stop commercial loan shop proves a unique opposite comparison to what we hear in the news of business owners having to beg their bank for a new loan or a renewal and often leaving empty handed. So we asked Michael Pechony to tell us his secret and what are the ingredients for this success?
"Keeping it simple, ability to quickly analyze my clients’ needs, identifying which lender is going to be a perfect fit and a positive attitude are the only ingredients I use. My daily routine includes keeping my finger on the pulse of every one of my correspondent lenders and only feeding them the business they are ready to fund.”- said Michael Pechony
This simple doctrine has paid off with speed of lender deal review, preferential loan pricing, and a guaranteed timely funding of each loan. Lenders are very hungry for loans today and are actively seeking to place money on the street, but it is just as difficult for them to find their target client as it is for a potential client to find them and that is where Anchor & Anvil and Michael’s team comes in and makes a play.
Since so many institutional lenders have multiple and fragmented departments, extended hierarchies, an almost bureaucratic nomenclature, and a myriad of niche specialty finance groups – “ being able to pick up the phone and call the senior loan specialist for a specific asset class on the secondary market in New York or a decision maker at a local Credit Union or a private bridge loan fund is often the only difference between funding a loan in 7 days or a client losing an opportunity or heaven forbid their business “ – said Michael Pechony.
This firm seems to have it figured out. Anyone who has been given a run around by a bank or found themselves in a difficult situation with a commercial loan should contact Anchor & Anvil for a free consultation.
About Anchor & Anvil
Anchor & Anvil (http://www.anchorandanvil.com) located in Chicago IL focuses on placing debt capital for businesses in various industry sectors and for commercial real estate operators seeking competitive terms and fast closing time frames. Anchor and Anvil correspondent relationships developed over the years include agency lenders, life companies, credit unions, bridge loan companies, construction lenders, and specialty lending firms. Focusing on medium size business operators and lower middle market companies, Anchor Anvil prides itself in being able to deliver institutional products, generally available only to large corporations. Keeping it simple, personal service, fast and consistent results are what clients and partners enjoy the most in working with Anchor & Anvil.
Michael Pechony at 312-612-0348,
firstname.lastname@example.org or through the website at http://www.anchorandanvil.com