Why choose a small boutique firm like Cambridge when there are so many big banks out there with so much cash at their disposal? It’s a question that Cambridge Realty Capital staff hears regularly. Cambridge President Jeffrey Davis addresses it: “Why would you go to a single bank for a loan when you could have access to dozens of lenders through Cambridge?”
Many clients don’t realize that Cambridge isn’t a “lone wolf” lender. “Cambridge partners with a variety of different institutions, both private lenders and banks. Cambridge also has substantial resources of its own from which to draw funding.”
For the Cambridge client, this means:
* More financing options.
* Greater discretionary lending power on the part of Cambridge. “Big banks have a number of limitations and constraints with regard to who they can lend to, how much and under what terms,” Davis points out. “Cambridge has much more flexibility and fewer constraints because of its large and diverse pool of lending partners.”
* Greater flexibility in tailoring deals that are individualized to suit the needs of both the lender and the borrower.
* The ability to look beyond numbers and data. “Cambridge often works with borrowers who come here as a last resort because they’ve been turned down by one or more big banks due to not having too little history to be deemed a safe risk,” Davis states. “Cambridge has been able to strike deals with such borrowers by looking beyond the numbers and to the story that the borrower brings to the table.
* No committees to satisfy. More often than not, according to Davis, the borrower is talking directly with the decision-maker at Cambridge.
* Less red tape and fewer hoops for the borrower to jump through.
Cambridge has long been partnering with other lenders and institutions but is planning to pursue joint ventures much more aggressively going forward. “Cambridge continues to explore different options and is regularly approached by different financial institutions for different types of strategic relationships,” Davis says. “Cambridge welcomes inquiries from other lenders and institutions. Our door is always open.”
Cambridge Realty Capital is best known as a HUD 232 lender and has been specializing in working with senior living and skilled nursing care facility operators since the 1980s. “The specialized expertise in senior living that Cambridge brings to the table, along with access to a broad variety of capital through its lending partners, means there are a myriad of options for senior living and skilled care operators and developers,” Davis asserts. “Even within the parameters of a government-insured loan, Cambridge is still able to offer more options than larger institutions and conventional banks.”
However, Cambridge isn’t solely a HUD loan provider. Cambridge also offers conventional debt financing as well as signature bridge loan financing. “Again, because we partner with such a diverse group of lending partners, Cambridge is often able to work with borrowers who may not qualify for a conventional bank loan,” Davis notes.