At WHITTMORE BRILEY we leverage deep insights along with local and global expertise to achieve outcomes that are most important to you, the client. As your trusted funding advisor, we utilize a fiduciary standard to responsibility, we bring the full depth and breadth of our firm to focus on your unique financing needs and challenges.
Our goal as a leader in the industry is to provide client satisfaction and world class service. From loan origination to brokerage fulfillment, our expertise spans all business and commercial real estate products in all market sectors. Our goal is to transition each client to an elevated funding status, by helping them achieve capital, operational and market success.
In essence, across WHITTMORE BRILEY, our goal is to serve millions of customers which includes many of the world’s most esteemed corporations, charitable institutions, and small to medium entities-helping finance assets and projects, offering business advice and strategies, and providing innovative capital acquisition solutions and services.
As you view each lending program, determine if it's a Commercial Real Estate loan or Business loan which your company needs. Once you click into the desired loan button our software will take you to the full application to initialize the process. Our intuitive program will respond with next steps needed to finish the application.
Simply put, Timing. Once an executive from a small to medium size business travels to our site, they've dealt with multiple traditional banks and more than likely been rejected for a loan. In reality, we can't condemn these traditional banks for their positions on funding. Remember, these institutions are saturated with a great deal of regulations due to the banking crisis of the late 2000's. These banking rejections could also be part of issues such as, inflationary shifts in the economy, global insecurity, cautionary guidance by the federal reserve or the loan package just didn't fit the lending criteria of the bank. Therefore, the assumption gathered is that the company executive has already assembled all the necessary documentation needed to move forward with a loan application. At WHITTMORE BRILEY we recognize this, and our software is intuitive enough to move the process forward. Could there be a document or two needed that the company executive is needing to create, yes. Some lenders require different information. But, for the most part, these executives have what is needed by the time they reach our site. So, at this point, there is really no value in submitting a quick application. The value is in the shortened process, accurate information by the funding seeking company and our dynamic software. In essence, whether you are seeking a commercial real estate loan or a business loan, WHITTMORE BRILEY has the funding program to fit your operational need.
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As of this moment, WHITTMORE BRILEY does not originate loans within the following States. Arizona, California, Florida, Minnesota, Nevada, New York, North Dakota, Colorado, Idaho, Oregon, New York, New Jersey, Rhode Island, South Dakota, and Vermont.
This is a common list of documents most lenders will need to decide on funding a business. Some lenders require more, and some do not need as much documentation. It mostly depends on the amount and type of funding your business needs.
We will pull a soft credit report on the borrower.
As of this moment, WHITTMORE BRILEY does not originate loans within the following States. Arizona, California, Florida, Minnesota, Nevada, New York, North Dakota, Colorado, Idaho, Oregon, New York, New Jersey, Rhode Island, South Dakota, and Vermont.
This is a common list of documents most lenders will need to decide on funding a business. Some lenders require more, and some do not need as much documentation. It mostly depends on the amount and type of funding your business needs.
We will pull a soft credit report on the borrower.
Yes, it is possible to get a business loan even if you have bad credit. This is because your credit score is not a true indicator as much as the overall financial health of your business. Many of our partner lenders require a minimum credit score of 500, at least six months in business, and more than $30,000 in annual revenue. However, you can expect to pay higher fees and interest rates when you have bad credit as a business owner. This is to compensate for the risk a lender must assume in funding the loan.
When you're running a business, there are a lot of things to worry about or that keeps you up late at night. You have to worry about your product, your customers, and your employees. You also have to worry about your bottom line. And one of the biggest factors affecting your bottom line is your business loan.
Most businesses need some form of financing, whether it's to get started or to keep things going during tough times. But taking out a loan also comes with risks. Here are some of the risks you should be aware of before you take out a business loan:
Yes, it is possible to get a business loan even if you have bad credit. This is because your credit score is not a true indicator as much as the overall financial health of your business. Many of our partner lenders require a minimum credit score of 500, at least six months in business, and more than $30,000 in annual revenue. However, you can expect to pay higher fees and interest rates when you have bad credit as a business owner. This is to compensate for the risk a lender must assume in funding the loan.
Yes, it is possible to get a business loan even if you have bad credit. This is because your credit score is not a true indicator as much as the overall financial health of your business. Many of our partner lenders require a minimum credit score of 500, at least six months in business, and more than $30,000 in annual revenue. However, you can expect to pay higher fees and interest rates when you have bad credit as a business owner. This is to compensate for the risk a lender must assume in funding the loan.
Commercial Bridge loans serve as short-term financing solutions. They are useful when your company needs cash flow for property improvements, refinancing, or securing longer-term financing. The Bridge loan strategy tends to be secured with collateral — usually the real estate you’re looking to purchase or renovate.
Hard Money Loans are commonly used by investors, such as house flippers or developers who renovate properties to sell. The approval process is often more lenient, but the costs can be higher. Our clients who engage this type of loan understand that lenders will require a down payment, often a minimum of 20% or more.
This funding strategy allows investment companies to finance multiple properties under one loan. They are an excellent way to reduce transactional costs and interest rates, buy or refinance entire portfolios and improve your company's real estate position. This funding strategy is often deployed for Conduit Loans or sometimes called CMBS. CMBS loans provide non-recourse financing for apartments, multifamily, and commercial properties starting at $2 million, with LTVs up to 75%. After closing, they are packaged and sold on the secondary market by banks, lenders, and other institutions.
Equipment/Asset Based Loans use the company’s assets as collateral to secure financing. Collateral can include commercial, industrial machinery, real estate, accounts receivable, equipment and or inventory. The terms and conditions of an asset-based loan depend on the type and value of the assets offered as security. Our lender-partners will prefer highly liquid collateral assets. Some benefits of Equipment/Asset Based Loans are:
When it comes to funding your project, your business might need a commercial loan to give you the resources to start. We help builders, developers, & investors finance new construction projects for commercial office projects, retail, mixed-use or multi-family property types.
Several of our Lending-Partners offer Federal Loan guarantee programs that are designed to encourage the commercial financing of rural businesses and increase opportunity for the entrepreneurial spirit. The reason why the Federal government is involved is because it wants to create and save rural jobs, help disadvantaged communities and improve the economic and environmental climate of the country.
So, what makes both the SBA & the B&I loan different: The Business & Industry Loan program is lender-driven. The USDA guarantees the loan rather than lending directly. A commercial lender requests the B & I guarantee, and, if it is approved, the commercial lender makes and services the loan.
The benefits of the B & I Guaranteed Loans Program for businesses is that the borrower gets a higher loan amount. The reason why is because the guarantee strengthens the loan application, allowing the bank to feel comfortable with a smaller equity injection.
B&I loans also offer lower interest rates and longer repayment terms. This greatly assists businesses that may not qualify for conventional commercial real estate financing, which provides the rural business greater stability and leads to greater growth, expansion and rural employment.
The SBA on the other hand is guaranteed by the U.S. government. Now, the SBA loan process is notorious for a long application process that can delay when you will receive funding. It can take up to three months to get approved and receive the loan. We can help you navigate that journey for a SBA 7a or 504 loan, however, the application is lengthy, but the savings are great. Terms range up to 25 years. We work with over 20 SBA lenders.
Authorized Loan Purposes:
Working Capital is a funding strategy for businesses needing short-term financing to help covering the costs of day-to-day operations. As for Line of Credit, pre-approved business financing is accessed as needed, and your company only pays interest on the funds used.
Many business lines of credit are unsecured, which means you don’t need to utilize collateral. A typical business line of credit has a draw period that lasts for anywhere from one to five years, funding of up to $5M, many approvals within 24-48 hours, and may not have a pre-payment penalty. Once the draw period ends, you enter repayment, during which you pay back both the principal and interest. Since many have variable interest rates, the cost of your debt can fluctuate.
Working Capital & Lines of Credit are often utilized for:
At WHITTMORE BRILEY, we help clients who operate in difficult environments obtain financing. This financial instrument is available to companies with complex financing needs, which cannot be ordinarily solved with conventional funding. Traditional lenders do not generally offer alternative financing as a part of their lending portfolio. As a side note, it is without saying that this funding strategy carries a high-risk factor. Lenders which carry this portfolio will impose higher fees to cover the cost of the risk valuation. To achieve the best financing terms available for your investment and capital acquisition strategy, we partner closely with leading Portfolio Lending companies, Pension Funds, Life Insurance and Credit companies, Government-Sponsored Enterprises, and Global Investors. Once a good partner is matched to your application, we submit the loan package for funding.
Simply put, timing. By the time an executive from a small to medium size firm download their company's loan package to us, they have already applied to multiple traditional banks. Unfortunately, they've all received the same result, "loan rejected". Now, it's not to say that their loan package is flawed, on the contrary. The Banks' lending criteria's may have shifted, the economy may have shifted, the bank may have met their funding objectives for the year, their risk appetite has tightened or their just not interested in the loans target market. Whichever the case may be, loans are not being funded. This being said, these executives do not have the patience nor time to go through a song and dance courtship all over again.
WHITTMORE BRILEY is designed to meet this challenge. Because we are an exclusive online digital loan broker, all the executive needs to do is log on to our site and in the "OUR PROGRAMS" page just fine the right program to submit their documentation into. Now, we are not saying it will take just a few minutes, no. The software has its application and questions geared towards the borrower's needs. From there the borrower simply submits all the documentation available. Now, there may be one or two items that may need some time to retrieve, but for the most part, that executive has gathered all necessary documentation needed during their funding quest. Our firm's software then matches that loan package with the top three to five quotes which is presented to the potential borrower. At this stage the borrower just chooses the best deal for their operation.
We absolutely think this frame is extremely important. Therefore, we purposely made sure both the "Home" page and the "Our Loan Programs" page shared the same frame conversation. It is important that our clients understand how important their TIME is to us. For this reason, we have process engineered the application sequence to shorten the digital loan brokerage experience.