LENDERS/LOAN OFFICERS

Your Borrowers

Many lending institutions, such as credit unions that do not offer commercial mortgages, still get applications.  Instead of simply denying the borrowers request and losing the deposit relationship when they go with another bank, many institutions refer them to us for a hard money loan.  Many of our lenders do not service deposit accounts and the borrower would most likely keep their money in your institution.  Even if we approve them with a lender seeking a deposit relationship, we make sure you are not forgotten and it is likely the borrower will still keep their personal deposit accounts with you.  Either way, you maintain a relationship with the borrower and also some good word of mouth advertising when they tell people how you helped them find financing.

Your Denials

Customers unable to qualify for financing with you because they don't fit your criteria still need financing.  By referring them to us, you eliminate the need for them to go down the street and maintain your banking relationship with them.  We can do long term financing with hard money loans on deals you have no future interest in, but want to maintain a deposit relationship.  We also often do short term financing for credit challenged borrowers, poor properties, etc. with a 1-7 year hard money loan.  Then, a year or two later when they have improved their credit, or established profits, they can refinance with you since you have maintained that relationship. 

 

Your Problem Accounts

When a borrower has been assigned to your workout group for late payments or you just don't want to renew a note, send it our way.  We have many programs for problem deals specifically designed to help you unload these loans right up to the day before the sheriffs sale.  Clean up your portfolio and maintain the deposit relationship at the same time.

Your Pipeline

While our niche programs do cater to the type of borrower that doesn't qualify with a local lender, we do get many "clean" deals referred to us by brokers and other banks that deny them because they aren't in their lending territory, etc.   We do refer these deals to local lenders that have referred us loans.  Historically, you can expect to get a "cherry" deal from us for every couple problem deals you send us that end up closing as a hard money loan. 

Your Wallet

We do pay 20% of our gross fee income as a referral fee.  It is simply a matter of getting the borrower's permission to share their name with us, and filling out our Refer A Loan Form .  Nobody likes telling the borrower that their loan has been denied, but the customer will appreciate you much more if instead of showing them the door, you tell them that Sterling Investor Capital, LLC may be able to help.

 

The referrals you send to Sterling Investor Capital will help secure and maintain the banking relationship you enjoy with your customers.  We work hard to keep that relationship intact for you to have future lending opportunities with them.