On April 12, 2024, Kansas Governor Laura Kelly signed SB 345, which establishes disclosure requirements for commercial lending. The new law will take effect on July 1, 2024, and applies to commercial lending transactions of $500,000 or less. The law defines “commercial lending transactions” to include sales-based lending, factoring, and commercial loan transactions. The new law will require commercial loan providers to provide the following disclosures for each commercial loan: The total amount of funds provided to the business under the terms of the commercial financing agreement; The total amount of funds disbursed under the terms of the commercial financing…
Author: Private Lending Agent
Success isn't about breaking down walls, it's about finding doors.With commercial real estate owners facing trillions of dollars in payment dues, the door is open for private credit lenders to gain an advantageous position in the capital structure and earn equity-like returns.See also: Sunday Roundup: Talking about my generation Private credit is already outperforming: Private credit funds outperformed rival private equity funds that focus on mergers and acquisitions by more than five times in the third quarter of 2023, the last quarter for which data is available, according to the State Street PE Index. The current market conditions are favorable…
The new branch, opening this spring, will give Commercial Bank a broader presence in the Grand Rapids area banking market. The office being built at 240 Lake Michigan Drive NW in Talmadge Township, just over the Ottawa and Kent county line from Walker's Sterndale neighborhood, will be the 10th branch for Ithaca-based Commercial Bank, north of Lansing. The community bank previously had a loan production office in downtown Grand Rapids that opened in 2016 but closed last November as plans for a new full-service branch moved forward. The downtown loan office had established a solid book of business in the…
Cities, counties and other local governments have traditionally relied on property taxes as a sizable and stable source of revenue, but as remote work takes hold after the pandemic, studies have found that the value of office buildings in many cities could fall by half. The question facing policymakers isn't whether this will affect local budgets, but how badly. A new analysis looked at how reliant 47 major cities are on commercial property tax revenues and combined that data with estimates of future office values to come up with two projections of revenue shortfalls by 2031 in 13 cities for…
Leasing commercial property is a complicated process, and even the smallest oversight can result in huge losses for your business. Here are the five most common mistakes to avoid when signing a CRE lease agreement. Mistake #1: Focusing Only on Price Low prices are often a strong attraction when it comes to leasing commercial real estate. But it's important to remember that a favorable lease price is only one piece of a larger puzzle. Focusing only on cost and ignoring other important factors can hurt your business in the long run. While an attractive lease price may seem like a…
Insurance is a tricky topic, especially when it comes to starting a business. The products are complex, and it’s easy to feel intimidated by the jargon. On the other hand, insurance is an important way to protect your business, and if you ever end up relying on commercial insurance, it can be the difference between an unfortunate situation and a total disaster. Getting the lay of the insurance landscape before you sit down to talk to a professional can help you understand both the process and which insurance products your business might need as it grows. And if you’re still…
Insurance is a tricky topic, especially when it comes to starting a business. The products are complex, and it’s easy to feel intimidated by the jargon. On the other hand, insurance is an important way to protect your business, and if you ever end up relying on commercial insurance, it can be the difference between an unfortunate situation and a total disaster. Getting the lay of the insurance landscape before you sit down to talk to a professional can help you understand both the process and which insurance products your business might need as it grows. And if you’re still…
“We have no plans to propose any new taxes or increase existing taxes,” Gov. Maura Healey told business leaders on Tuesday.Healey, who takes office in 2023, has pledged to make Massachusetts a more affordable, fair and competitive place to live — a call he repeated in a speech to the New England Council at the Boston Harbor Hotel, but also acknowledged the state faces tough fiscal times.“We started by cutting taxes, something I want to remind the governor about. [Chris] Sununu said he was proud to be the first governor to deliver a $1 tax cut in more than 20…
Do you remember the economy of the late 1990s? Or, if you're too young to remember (and I hope at least some of my readers do), what did you hear about the economy back then?It's probably remembered as a time of prosperity with low unemployment, a booming economy and low inflation that was marred by an irrational stock market exuberance. Have you heard of Pets.com?You probably haven't noticed, but the economy in early 2024 looks a lot like the economy at the end of the Clinton administration. People may not feel prosperous, or at least they would say they don't,…
Georgia entrepreneurs may want to consider grants as a funding option for their businesses. Unlike business loans, grants typically don’t require repayment, but you will need to invest time and energy to apply for this free money. Some grants are city-specific while others are offered on a state or national level.Here are some small-business grants available to Georgia businesses, plus a few tips on applying for them.We’ll start with a brief questionnaire to better understand the unique needs of your business.Once we uncover your personalized matches, our team will consult you on the process moving forward.Georgia small-business grantsGeorgia Rural Business…