Real Estate Journal — Creative Financing — Financial Digest — June 10 - 23, 2016 — 13A
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M id A tlantic
C reative F inancing
egal Bank is a full- service community bank that serves resi- Lending team goes the extra mile for its customers Regal Bank provides creative financing solutions for local businesses R (CDC) that works to provide loans to small businesses in New Jersey.
businesses to finance. The sales are comprised of a large cash component and their fail- ure rate is one of the highest when compared to other busi- nesses. There is also heavy investment in equipment and inventory, which lose value quickly. However, in this par- ticular instance, real estate was involved. Because com- mercial real estate is Regal Bank’s specialty, the bank’s lending teamwas motivated to work out a creative financing solution to help the customer. “Because we are up for any challenge that will benefit our customers and the community,
we eagerly took on the task,” said Brian McGuinness , senior vice president and chief lending officer who specializes in owner occupied and mixed- used projects. “The lending staff at Regal Bank has more than 100 years of combined lending experience. We are large enough to work on multi- million dollar loans, yet with the personalized approach that most people associate with smaller banks.” Regal Bank worked in con- junction with the Regional Business Assistance Corpora- tion (RBAC), a non-profit cer- tified development company
ton, New Jersey, Regal Bank now has a total of nine branch- es operating in the communi- ties of Livingston, Roseland, FlorhamPark, Millburn, Som- erset, Springfield, Summit and West Orange, New Jer- sey. Additional information is available at regalbanknj.com, info@regalbanknj.com, or at 973-716-0600. The RBAC was founded in 1981 and has offices in Mer- cerville and East Rutherford, New Jersey. More information on the RBAC can be found at rbacloan.com, or by emailing info@rbacloan or calling 1-877- 587-1133. n
The loan was structured in a way that made it possible for the borrower to acquire both the real estate property and the eatery business. McGuiness also said, “Out of our creative spirit and faith in our customers, we provided a workable solution for the loan—a move that other banks might find to be burdensome. At Regal Bank, our lending team is known for being dedi- cated to finding a way to make things happen.” Headquartered in Livings-
d e n t s and businesses in the northern New Jersey area. Earlier t h i s y e a r , an existing customer of the bank ap- proached the lending staff
Brian McGuinness
with the goal of purchasing a local Livingston eatery that is a landmark of the community with a strong customer base. The customer also wished to purchase the building that houses the eatery. Restaurants are tradition- ally viewed as challenging Eastern Union an- ticipates $1.25B in transactions for Q2 HOWELL, NJ — Eastern Union Funding , one of the nation’s commercial real estate debt brokerages, reported an increase in originations of more than 20% during the first quarter of 2016, in comparison to first quarter 2015 figures. Closings are up 15%, with almost $1.25 billion in trans- actions in the pipeline for the second quarter. The robust transaction vol- ume is in part due to East- ern Union’s formation of the industry’s first quote-and- term-sheet (QTS) division to connect lenders with the firm’s mortgage brokers and clients, according to Ira Zlotowitz , president and co-founder of Eastern Union Funding. The new QTS division, named for the quotes and term sheets used to compare loan options, consists of financial specialists who shop clients’ deals to the market, and re- turn to those clients an as- sortment of the best financing terms available from potential lenders.QTS frees Eastern Union’s mortgage brokers to focus on client service and closing deals, and eliminates the potential for some lenders to be overlooked due to broker preferences. “By consolidating the pro- cess of marketing our clients’ loan parameters to lenders and gathering quotes for all of our deals out of a single division, we have simultaneously boost- ed efficiency and increased the time that brokers devote to the client,” said Zlotowitz. n
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