Gelt has been helping commercial real estate and investment borrowers since 1989. When your bank says NO, we say YES.

Jack: So, what— a little interview.
Marcy: Sure.
Jack: A little TikTok or YouTube short interview, uh, tell us about, we have a borrower on the books now.
Marcy: Correct.
Jack: About a year, something like that, paid us on time.
Marcy: Yes.
Jack: We originally lent him how much?
Marcy: We originally lent him $300,000, and he originally signed up for a 24-month loan with us, with a 12-month prepayment penalty. So, the year has been up, and he started to look around to refinance, and he realized that, you know what, let’s see what Gelt has to say if we’re competitive out in the market.
Jack: And what did you offer him yesterday?
Marcy: And I offered him an additional $200,000 cash.
Jack: Bringing his interest rate down.
Marcy: Bringing his rate down. Now, his, you know, and offered him 18 to 24 months with us.
Jack: We would have given him longer. That’s what he wanted, right?
Marcy: Yes, that’s what he wanted. And we just have to do it as a modification, and we, you know, charge them a flat fee in the closing costs, and it’s very streamlined. It’s much easier for our borrowers to—
Jack: Where’s the property?
Marcy: The property is in, um, New York, in Brooklyn.
Jack: Brooklyn, New York.
Marcy: And, um, yeah.
Jack: And how’s his credit?
Marcy: His credit is not, it’s not great. Um,
Jack: Marcy’s being kind.
Marcy: Yeah.
Jack: He’s a good guy.
Marcy: He’s a great guy, but yeah, so he couldn’t go for traditional financing.
Jack: Okay, so this is what we do at Gelt.
Marcy: Yeah.
Jack: Once we have them on the books, this particular guy, we’re lending him $200,000 more money.
Marcy: Yes, cash out.
Jack: Cash out, all cash, seamless transaction, and that’s what we do pretty much every day of the week here.
Marcy: Absolutely, we try to problem-solve to help the borrowers and, you know, try to see if we can work it out and give them what they need.
Jack: Thank you for this on-the-spot, on-the-street interview, Marcy.
Marcy: See you later.
Jack: Remember, like our YouTube or TikTok or whatever, check us out at And “ When your bank says no, we say yes”. Have a great day.”

Category: Borrowers


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