B — December 6 - 19, 2013 — New Jersey — Mid Atlantic Real Estate Journal
www.marejournal.com
N orthern N ew J ersey
Regal Bank’s Monte Ehrenkranz specializes in relationship lending Commercial lending with the hometown touch
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s VP of business de- velopment for Regal Bank, Monte Ehren-
“The way I build business and get referrals is by getting out and meeting people in
er, where he learned that meaningful customer service comes from knowing your cli-
working in Livingston since 1996 and have developed strong relationships with the residents and business own- ers here,” he added. Community Banking in Action This personal approach to commercial banking can make all the difference for small and mid-sized busi- nesses. Livingston-based Mitschele Companies is one such example. Mitschele is a real estate development and construc- tion management company
that has been in business since 1947. The company was looking to refinance the com- mercial mortgage on their Cedar Mall shopping plaza, both to get a better rate and to free up cash for property updates. Unfortunately their quest was met with big bank bu- reaucracy and regulatory red tape. Co-owners and cousins Ralph Mitschele Jr. and Nor- man Mitschele Jr. met with several lenders, only to be rejected for various reasons, including an anchor tenant with only a few years left on its lease. At the recommen- dation of a family member, they decided to reach out to Ehrenkranz at Regal Bank. “I was able to get them into a meeting with our Bank President Thomas Lupo. They explained the situation, we analyzed the numbers and decided it was a good deal,” Ehrenkranz said. “We were able to get potential loan customers in front of the deci- sion makers so they could tell their story. The loan made sense, so we did it.” The Mitscheles were ap- proved for a $3 million, 360- month commercial mortgage at a very attractive rate. “At Regal Bank, the people were very reasonable to deal with. They were able to see where we were coming from and where we are headed,” said Ralph Mitschele Jr. “Other banks are not en- couraging when you’re a small business. We had some banks put us through all sorts of hoops, only to tell us they don’t make this type of loan,” Norman Mitschele Jr. said. The statistics tell a similar story. Even though small and mid-sized banks control only 22 percent of all bank assets, they account for 54 percent of small business lending. This is an important example of the vital role played by com- munity banks in supporting America’s 28 million small business owners and entre- preneurs. Ehrenkranz added, “I am proud to work for Regal Bank, a responsive, locally- focused community bank that is committed to the success of our customers and com- munities.” Monte Ehrenkranz is VP/business development at Regal Bank. n
kranz’s office is officially l ocat ed at c o m p a n y he adqua r - ters in Liv- i n g s t o n , New Jersey. H o w e v e r area bus i - ness owners
“The way I build business and get referrals is by getting out and meeting people in the community.” — Monte Ehrenkranz
the community,” Ehrenkranz said. “I’ve helped hundreds of local business owners I’ve met through the Rotary Club, Chamber of Commerce and local networking events.” In the banking industry since 1983, Ehrenkranz started his career as a tell-
ents and understanding their needs. His unique people skills caught the attention of a commercial bank, and he promptly moved into a management position. “I quickly learned how to in- volve myself in the communi- ties in which I work. I’ve been
Monte Ehrenkranz
are just as likely to run into this dedicated banker at the local festival, fair, fundraiser, rally or parade.
Specializing in multi-family, Regal Bank is ready to lend.
$2,500,000 432 unit multi-family building Haddonfield, NJ
$3,000,000 44 unit multi-family building Union City, NJ
$1,350,000 15 unit multi-family building Jersey City, NJ
$1,050,000 11 unit multi-family building Montclair, NJ
•Non-recourse loans available up to $4.5 million • Low interest rates • Extended amortization • Flexible prepayment options
Livingston, Roseland, Florham Park, Millburn & West Orange (973) 716-0600 • regalbanknj.com
Equal Housing Lender. Equal Opportunity Lender. Member FDIC.
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