Hot Summer...

It continues to be a hot summer here in Wisconsin, which I personally think is wonderful. It has also been very busy with smaller, (under 1M), short term transactions (2 years is the average), that keep the lights on. We have a couple of really large projects, one multi-million dollar, multi location refinance, a couple others in the 1.5-2M range, but so far, anything with a lot of zeros, most especially if the request has anything to do any kind of construction, has been really challenging. We haven't had a closing in that realm this year - YET, that is. The bottom line is, if you haven't shown really positive numbers in the past three years, 2009 included, (and that's a tall order for just about any business I know of), you can expect your loan request to be turned down by 5 or 6 funders before you may find a fit. But we're getting to nearer to a few closings that will be quite a feather in our cap, and when those happen, I'll be sure to let you know about it.

Oh, as long as I am at it, if you are a private investor, I encourage you to look up "American Association of Private Lenders", it is a great new organization that is sure to be at the forfront of best practices and advice in our industry. I joined recently, and their magazine "Private Lender" is full of good advice.