Client Spotlight: Reprop Financial
The commercial real estate business is sustained by the lifeblood of cash flow from traditional lenders. The “traditions” of banks are as ironclad and leatherbound as any tradition. If the collateral (the property in question) is not sufficient in proportion to the loan requested, or the borrower’s liquidity does not meet certain criteria, that loan is not going to happen at a bank or with a broker.
That is where ReProp Financial makes their very valuable niche contribution to the commercial real estate landscape. As direct lenders who only accept first lender status for any property financed, they are able to write loans for borrowers who have a sound business plan for a viable property. Many of their success stories involve developers who have sole title to a property for which they need a sizeable cash infusion for renovation before resale. ReProp provides them with their loan at an acceptable interest rate and payment structure; they, in return, are able to resell the property for a substantial profit.
Typically, ReProp’s customers are referred to them by the banks and brokers who have been unable to secure traditional lending for them. As the referring entity, the banks and brokers are considered ReProp’s partners. As the primary beneficiary of ReProp’s services, the borrowers are their customers. ReProp values and and honors their relationship with both their partners and customers, creating a win-win-win scenario in this profitable niche of the commercial real estate market.