Gelt financial closes a commercial office building in Atlanta Georgia for the owner of a new business in 4 working days after the bank said no at the 23rd hour.

Jack: Jack and Marcy at Gelt Financial. Marcy wanted to tell our loyal YouTube audience. Oh, first, make sure you like our YouTube channel, leave your comments and whatever forward anyway, whatever you want to do.
Marcy: So, what we’re here for today is we wanted to tell you about a deal that we closed in four business days in Atlanta, Georgia. It was a building with different, you know, a variety of different tenants. And this gentleman came to us through a broker, and the deal got to another institution, and they left him at the altar. They did not close the deal. We got the phone call on Friday.
Jack: Friday. So, the borrower had perfect credit, high net worth individual buying a beautiful—
Marcy: Nothing wrong with the borrower, and nothing wrong with the deal.
Jack: Yeah, all our borrowers are great people. They’re hard-working. They’re, you know, they’re all good. They’re hard-working, soul-to-the-earth people. He applied to a bank; he was hard. I think with like 250 grand. It was an office building. Had to close Thursday, Friday. They called us; we issued the term sheet within Friday. And when do we close the deal?
Marcy: We closed the deal the following Thursday, yep. And we could have closed it on Tuesday, but we were ready, but you know there’s complication—
Jack: That’s correct. We actually delivered the mortgage package on Wednesday. So really three business days. It could have been three, it was four business days closing on a commercial deal, and it was a new business for the borrower. It was a new business, period.
Marcy: Yes, and everything went super smooth, and we all were on it. We took care of it because we knew how to close, and that was our goal, and it did.
Jack: Remember when you come to Gelt Financial, you’re going to get a yes or no very quickly. You’re always going to speak to a decision-maker. Nine times out of ten, we’re going to quote it out right over the phone within a half hour, an hour. We’re going to issue you a written term sheet and boom, boom, boom. You know what her nickname is here, the hammer. I don’t know if it’s public. All right, it’s a private insight joke.
Marcy: Oh, oh, we just let it out of the bag.
Jack: We call her the hammer; she’ll get the deal done.
Marcy: Okay, I’ll say it’s a gently touch hammer, but I manage the loans, and I get them closed, and that’s what we’re here for.
Jack: Yes, and by the way, we have, I think, 12 other people there. It’s not just Marcy and me, but we have a bunch of other people to work as a team.
Marcy: But we’re the only ones to get on these YouTubes.
Jack: I know. The truth is I don’t do any work; everyone else does all the work. But anyway, the broker was thrilled, quick closed, left at the table. We came through. You know, it’s interesting, Marcy, and you pointed this out to me. I didn’t even realize it. For the past three or four months, almost all the deals have had these purchases and the same M.O. Either way, the same M.O. They apply with another lender, the other lender promises them the sun, moon, and the world, and a couple of days before settlement either does a bait and switch or drops the deal. They’re calling us in a panic. We have to get the loan close. Literally, I think the past 20 deals, I think 10 or 15 of them super rushes in a week or under, and we’ve gotten to closing.
Marcy: And we’re so used to working in such fast gears that usually, like now, when the loan doesn’t close within two weeks, I’m like, wait, why isn’t this closing?
Jack: The broker was thrilled; the borrower was thrilled. So that’s what you get at Gelt Financial. Again, I tell people right up front, we’re not the cheapest. You want the cheapest, go somewhere else. But you’re always going to speak to a decision-maker. We service our own loans; we don’t sell them off on the secondary market. We’re making our own decisions, and we use common sense, which a lot of lenders don’t use. They have to sell it off on the secondary market, someone else’s guidelines. There’s a blip in the world like what happened with COVID; everyone shut down; we kept lending in COVID. For us, it was sad for everyone else, but COVID was a boon for us because everyone shut down, and we kept going. Remember, when your bank says no, we say yes. Check us out at, give us a call at 561-221-0900, extension 103. And most importantly, have a wonderful day.”

Category: Deals Done

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