Cambridge Realty Capital knows how to deliver a successful loan application, and is dedicated to providing clients with support throughout the entire process. One example of Cambridge’s superior client service happened recently. A client telephoned Cambridge’s National Origins Manager Hymie Barber that he had just received an offer from Cambridge’s competitor that promised to finance his senior housing properties at a rate that would save him a great deal of money. The client wanted to know why Cambridge did not present a similar offer to him. Barber told the client that Cambridge did not suggest the competitor’s approach, because Cambridge had already done the math and discovered that the client did not qualify for the program the competitor offered. The client thanked Cambridge for its continued support. “Looking out for the client’s interest in this way is how things are done at Cambridge. We place a high value on not wasting anyone’s valuable time pursuing phantom deals that have no chance of ever getting done,” Barber said.
Jerry Nudo, Vice President of Acquisitions and Finance for Marc Realty, has said that Cambridge backs their claims up with an impressive list of transactions that proves they truly are one of the best lenders out there. He continued his glowing recommendation of Cambridge Realty Capital by saying: “Borrowers working with Cambridge appreciate the fact that the company totally understands what will and will not work. They also like the fact that Cambridge gets things done in a timely, expeditious manner. If Cambridge is presenting their acquisition deal or loan, it’s like being introduced to the funding process by an old friend as opposed to someone off the street. If Cambridge says a deal has merit, this means something to capital sources. The Cambridge staff is smart, hardworking and totally focused on getting customers the loans they want most. Not many people can do that.”
Senior housing and healthcare lending is a complex process. That is why it is important for borrowers to understand that working with a knowledgeable, experienced lender is vital. In addition, Cambridge also stresses the importance of full disclosure and responsiveness on the part of the borrower. It is essential that the borrower and the lender work together during the loan application process. Cambridge Realty Capital Companies Managing Director Sampada D’silva stresses the importance of borrower and lender working in tandem to complete a loan application. D’silva states that borrowers must be responsive in order to get through the process with as little confusion as possible, and that at least half of the responsibility for continuing momentum in a lending application lies with the borrower. D’silva says that though the types of information that a borrower will need to meet the lenders due diligence requirements will vary, there should not be any surprises with regard to the types of information a lender will need to process a loan. D’silva says that timing in a loan application is everything. “Without momentum the underwriting process can unravel quickly. When the lender requests updated numbers of additional data, the expectation is the information will be forthcoming in a timely fashion. Borrowers should have at least three years of historical data copied and ready to present, and five years of data may be even better.”
Contact Cambridge Realty Capital
Cambridge Realty Capital specializes in providing financing and capital for large-scale improvements and construction projects for senior living facilities. We also have expertise in mergers, acquisitions, and joint ventures. For any questions regarding finance and capital for your senior living initiative, contact Cambridge Realty Capital. Our experts are committed to working with you in every step of the financing process.