We predict logically and transfer rapidly. We offer nice phrases and aggressive charges to debtors throughout a spread of industries on loans as much as $10,000,000.
Gulf Coast Small Enterprise Lending
Welcome everyone to the RealAtom lender podcast sequence, the place you’ll be taught concerning the lenders on the RealAtom platform and the organizations they symbolize. My identify is Tyler White RealAtom’s head of gross sales. RealAtom is the trade’s primary lending as a service expertise platform, empowering industrial actual property lenders like banks, credit score unions, and non-banking organizations to generate extra CRE loans. Right now I’ve the pleasure of introducing Jim Frey and Paul de Pasquale from Gulf Coast Small Enterprise Lending, Jim and Paul. Thanks very a lot for taking the time to current to us in the present day. Let me move it over to you to kick issues off.
Nice Tyler, thanks for having myself and Jim on this name with you. We’ve been trying ahead to doing this name with you. Simply need to provide you with a bit of little bit of background about Gulf Coast Small Enterprise Lending. We’re a division of Gulf Coast Financial institution and Belief Firm primarily based out of New Orleans, Louisiana. At present, we’ve 12 BDOs like Jim and myself which can be unfold out all through 16 states and we’re nationwide lenders. We do have a few of our BDOs which have labored with RealAtom prior to now. I and Jim are newer to the location. So look ahead to working with a lot of your brokers. Slightly bit about Gulf Coast Financial institution and Belief Firm. So our division is predicated out of Dallas, Texas, Gulf Coast Small Enterprise Lending. We’re a direct PLP lender, that means we lend our cash. We’re not brokers.
Our candy spot for lending consists of enterprise acquisition offers are $750K to $4 million. What I’d wish to say about our division is that we take a commonsense method to underwrite, that means we’re money movement lenders, and we have a look at historic tax returns and financials. We do like enterprise acquisition offers in addition to actual property offers. We’ll do biz acq offers with massive goodwill parts – that’s not a problem with our financial institution, which makes us a bit of distinctive in comparison with different establishments on the market on high of which we’ve our personal restaurant underwriting division. So we specialise in these sorts of loans the place most of the banks in the present day again away from these sorts of loans. So far as our industrial actual property merchandise, we lend on that as effectively, you understand, we’re at 10% fairness injection with whole mission prices.
So we’ll even do ground-up building offers. So we’re at 90% LTV. And once more, we’re very aggressive on this area. I’ll let Jim take it over from right here, which, you understand, have him clarify a bit of bit extra in-depth about why we’re such distinctive lenders.
Yeah. Thanks, Paul. So once more, you understand, I’ve labored at a variety of totally different SBA lenders. You recognize, we’re all nationwide SBA lenders and lend in all 50 states, similar to the opposite individuals, however what makes us distinctive? Effectively, you understand, the pre-approval course of here’s what actually introduced me right here and what I actually like. So we will have a look at a deal, get a partial bundle, not the entire thing, however, and normally inside a few days, 1, 2, 3 days we run it previous the credit score supervisor, possibly a few questions and we will provide a pre-approval and that provides the client, the vendor, or the dealer, a excessive degree of consolation and confidence.
So we can provide them a letter with some phrases and construction they usually can rely on that we will ship. So we nonetheless undergo an underwriting course of afterward, extra of a formality, nevertheless it’s a very good factor that we can assist with from the beginning in a brief time period. Lots of people like that and that basically makes us totally different. And in addition, you understand, in 2020, a whole lot of different SBA lenders actually pulled again and even stopped lending. We stored lending – we accomplished acquisitions, startups, building, issues like that. You recognize, the eating places are a bit of bit more durable trade for many even December and November of 2020, I financed a startup restaurant and two enterprise acquisition eating places among the many different offers. So the purpose is we will do unbiased and franchise offers, acquisitions and startups.
So and, and we’re doing building, which is a bit of bit uncommon to what else is exclusive. You recognize, consideration, all brokers. That is for brokers, industrial mortgage brokers, industrial actual property brokers, franchise brokers. We pay referral charges. Ours escalate so the extra you consult with us, the extra we pay you. And it’s kinda cool trigger there’s no annual reset, like a few of the different banks. With the connection that you’ve with us over time, the extra it goes up, by the totally different tiers, and we will pay you extra and you understand, I sort of alluded to it and form of Paul, once more, we do eating places and franchises and we’ve a specialization there.
So what else makes us distinctive is, you understand, we develop, we’ve a specialization right here, our credit score supervisor, and some of our underwriters have a robust background in franchise lending and restaurant lending, each unbiased and franchise. So, you understand, they got here into our financial institution with that background and it’s a robust half. We are able to do the startups, the acquisitions, and the development for actual property and for lease places that’s one thing that not each financial institution does. However I actually just like the method, pre-approval course of, and the whole lot right here at Gulf Coast. And simply actual fast, earlier than I used to be in banking, I ran a household enterprise for over 10 years and I really acquired an SBA line of credit score again within the early nineties. It was sort of all paper, no computer systems, it was a nightmare, however anyhow, it gave me an expertise of notion for either side of the desk as a enterprise proprietor.
And now as a banker, Paul, you need to inform a bit of bit about your background.
Sure, Jim, thanks. So I’ve over 20 years of expertise within the monetary providers trade and previous to changing into a banker, I too was a small enterprise proprietor and ventured out to being a monetary advisor earlier than leaping into the industrial banking trade. My SBA expertise is fairly in depth and that I used to be with a CDC for SBA 504 offers. Now I’m with Gulf Coast Financial institution and Belief happening my fourth yr now. We get to do enterprise acquisitions in addition to CRE. And the place’s the distinction between 504 and 7a is you can begin constructing stock, working capital and, you understand, actually set your self other than different lenders on the market. Good Tyler, I admire it. Yeah. Thanks.
Good. Effectively, it’s a particular because of, you understand, Jim, Paul, and Gulf Coast Small Enterprise Lending for taking the time to current to us in the present day. When you’re occupied with talking with Gulf Coast, please you’ll want to contact Jim or Paul instantly. When you’re occupied with talking with me in between episodes, be happy to ship me an electronic mail at Tyler@RealAtom.com. And for those who’re occupied with studying extra about RealAtom or are taking part in our lender podcast sequence, please go to our web site. It RealAtom.com. Thanks once more, Jim and Paul, and everybody for viewing, and look ahead to seeing you on the subsequent episode.
