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WA State Business Statistics |
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WA State Department of Revenue released in its 2008 year end report the following business statistics:
Gross Business Income was reported at over $627 billion, an increase of 2.7% or $16.8 billion compared to 2007. Overall in 2008 there was small growth during the year 2008.
Food products were up 14% or $1.3 billion, wholesaling (electronics, agents, and brokers) up 8% or $800 million, and business, personal, and other services, up 8.6% or $9.2 billion.
New and used Auto dealers reported a loss of 19.6% income (approx. $3 billion), lumber and wood down 12.9% (approx . 1.2 billion) , and construction down 1%, approximately $400 million.
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General
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 Most lenders see dozens of loan packages every month. For your loan request to stand out it needs to be prepared in an organized, professional manner.
Putting together a loan package is not an easy task, and we recommend you seek the help of a qualified consultant or broker, like Cornerstone. The cost you pay to have a great presentation and timely funding far outweighs the cost (and time) you put into doing a package yourself, shopping it, negotiating the deals, and taking a chance that your project may not even be fundable.
There are certain elements that need to be included in every loan request. These are the most basic items that a lender will need to analyze your request and make an educated decision on whether or not to lend you money.
Without those required elements the package will be promptly deposited into the round file under your lender's desk, otherwise known as file 13, or in laymen's terms...the garbage.
What are those elements you ask? Great question. Here’s the answer:
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Read more...
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General
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 Processing time lines are increasing drastically for commercial and business loans.
Most receivers of TARP money have been unable or unwilling to say exactly where that money has gone, but insist it is being spent in accordance with the spirit of the agreement.
In general, local lenders seem to be the best bet for smaller commercial deals while larger regional and national lenders seem to be babysitting their portfolios.
If you are planning to apply for a commercial loan or a business loan/line of credit we recommend you properly plan for the transaction with as much advance notice as possible.
What was formerly taking 30-45 days is now taking 45-75 days in underwriting, with more stringent document requirements and much lower leverage on average.
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General
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Financing solutions could exist for clients who might otherwise pass on a good deal
As published in Scotsman Guide's Commercial Edition, February 2009.
In today's tight credit market, most conventional mortgage lenders -- such as commercial banks and insurance companies -- are falling back on time-tested, conservative underwriting methods. This includes requiring low loan-to-value ratios (LTVs); high borrower liquidity and net worth; and stable, low-vacancy assets. It's likely harder for many of your clients to get high-leverage loans, and they're often required to put up a larger cash outlay -- receiving a lower return on investment.
Thus, many would-be property-buyers sit on the sidelines to wait out the market, and the volume of brokered deals is decreasing significantly. As a mortgage broker, however, you can help your clients move forward with their deals by helping them find private equity.
Read the full article here: http://www.scotsmanguide.com/default.asp?ID=3435.
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