No Doesn't Mean Forever

No Doesn't Mean Forever

Private lending is a constantly changing business. The factors that drive the types of loans that we can do are as varied as the structure of the deals themselves. That's why, despite the fact that we may have turned something down in the past, it never hurts to ask again.

Even though we're based in Portland, Oregon, we’re adding new capability all the time for different parts of the country. Normally, with smaller loans we like to stay close to home. We like lending in areas where we know the location and have a good feel for the properties. However, we recently added additional funding capability. As a result, we've been able to do more loans in Nevada and Texas and are looking at deals in Oklahoma again as well. This is an example of how changes in our funding capacity expand and enhance our ability to lend geographically over time

We're also starting to become more comfortable with lending on lots. Over the past year and half, we've shied away from land loans. There wasn't a great deal of sales activity and accurate valuations were difficult. Lot sales however have picked up as builders are once again building more houses and buying lots, and thus we have a greater comfort factor in this area once again as well.

Loan scenarios themselves can change. Often times when we've turned something down in the past, it has returned to us in a vastly improved state. Perhaps sales comps that are more supportive have become available, or maybe an additional borrower has been added to the scenario with stronger financials. If the picture of a loan has changed for the better, it's certainly worth giving us for a second look.

So, if you have a loan that was declined by us previously, consider submitting it once again. You may like the results.

-Richard Sundvall