Deal with the Decision Makers and Close Quickly

At Gelt Financial, you will deal with a decision maker who can approve and close your commercial on investment mortgage fast with great flexibility.

“Marcy: Hi, now we’re here.
Jack: Marcy and Jack at Gelt Financial. Marcy, how are you today?
Marcy: I’m great today. I’m in a great mood and, um, really fun, doing a lot of deals.
Jack: So, let’s jump into it. You know?
Marcy: What are we going to talk about?
Jack: I think we should talk about Gelt Financial, where we work. Oh, like our YouTube channel. Leave your comments. Leave your criticism.
Marcy: We still haven’t gotten to the point of this video.
Jack: Yeah, I know we’re dragging a little long. You’re always going to deal with a decision maker. We’re direct lenders, portfolio lenders, and I think it’s important because a lot of companies, you go through layers. The loan officer says yes, then he has to get someone else to approve it or a loan committee to approve it.
Marcy: Well, that’s exactly it. You need to have—
Jack: So, how does it work here?
Marcy: Well, this is how it works here. We don’t have five different people in between. You’re going to talk to myself, Jack, Noah, Michael, and we’re going to make the decision, and there’s no loan committee. We go over everything together. We look at the deal, we look at the area, we look at if the cash flows. We decide if we want to work with this property.
Jack: And usually, we can let you know within 30 seconds, 60 seconds on the very first phone—
Marcy: On the first phone call. And then we’ll hang up. We then reach out to the broker and say, “How many points are you charging?” And then we put together a term sheet.
Jack: How long does it take to do an average term sheet, you think, from phone call to—
Marcy: Within an hour, which is crazy.
Jack: Pretty damn quick.
Marcy: Quick. I mean, and then it’s up to the borrower. We can get everything done as fast as they move—
Jack: Are there any underwriting committees we have to put it through?
Marcy: Nope. And let me tell you something, when we get a deal, a lot of times, you know, the deal appears one way, and then when we really see it on paper, things change. And guess what? We don’t have a loan committee to go to, to discuss it. We discuss it. We evaluate how it’s going to be dealt with, and then we move along, and we keep processing the loan.
Jack: Again, with Gelt, you’re dealing always with the decision maker. We’re balance sheet lenders. We’re not selling them off on the secondary market. Even after closing, things change all the time. Modify, you just told us yesterday someone wants to take a change, a due date from the 1st to the 15th.
Marcy: We’ll change it if you want, and even midstream in the middle of the term, this person wanted to revise it, and we were like, “Sure.”
Jack: How many times does a borrower, should we to lend them more money or they need extensions or things—
Marcy: We work with everyone the whole time here.
Jack: We’re not sending it off to some big Wall Street bank or anything like that. You know, we’re not regulated. We’re dealing with our own capital and private capital. We’re using a common-sense approach. So, bottom line, you’re always going to deal with a decision maker. You’re going to get your rates and terms pretty much instantly. Follow up in writing with the term sheet within an hour to get a quote. Just close the deal in eight days. And that’s the new standard for us.
Marcy: Right. I mean, that’s it. We want to get them in, and we want to get them closed and move along—
Jack: So, there’s a lot of advantages to dealing with Gelt Financial. You’re always going to speak to a decision maker, and we can get creative. We don’t care if it’s—
Marcy: Well, because every deal is different. I always have brokers ask me all the time. They’re like, “Do you have parameters? Do you have, you know, can you give me guidelines?” I got to be honest with you, we form the loan to the borrower’s needs, so we make exceptions. We modify things. We just, we try to solve the problem.
Jack: And you know, our borrowers are very grateful. Check our ratings out on Facebook and Google. We have fantastic ratings because our borrowers and brokers love us. Remember, like our YouTube channel. “When your bank says no, we say yes”. Commercial loans, investment loans, any type of commercial financing. Again, we’re not a bank. We can’t do 5% in 30 years, but if you need a loan, you need a bridge loan, we’ll go up to 5 years, we’ll go up to 7 years, whatever you want. Give us a call at 561-221-0900, extension 103, and check us out at geltfinancial.com. And most importantly, have a fantastic day.”