Joslen Commercial Funding LLC (JCF) is proud of its history and the number of small business owners that they have been able to help with their commercial financing needs. Oftentimes, I am asked if JCF is a "direct lender", to which I respond, “No, but are you looking for one?” Once I help them understand the services offered by a direct lender compared to the services and benefits that are offered by a specialist broker (such as JCF!), the light seems to come on for them.

Commercial lending is a huge industry and exists because relationship lending with credit unions and local banks is becoming progressively scarcer. While JCF works primarily with companies who need financing for business-essential equipment and working capital loans, we have additionally created partnerships for SBA loans, factoring specialists, real estate financing for all credit tiers, etc. The industry works within an undefined, tight network of professionals who recognize the specialties and abilities of other agencies.

But more specifically, what can JCF offer you?

Concern for your Credit - Earlier this year, I was talking to a brand new business owner looking to purchase his first piece of equipment. He informed me that he was going to "cut out the middleman” and go directly to a lender because he “didn't want his credit to be run over and over." Along with the fact that most National Lenders will only accept an application through its network of Brokers, I explained that it made more sense to let JCF run his credit once to get a better idea of which lenders we could work with. Every now and then, JCF can even receive approvals from lenders that will only run a 'soft pull' on the borrower's credit, which doesn't impact their score at all.

Knowledge of Equipment - All lenders have some type of criteria on equipment that they will finance. These criteria on equipment can include but are not limited to: Years, Hours, Miles, Geographic location, Type of equipment, How much revenue the equipment will create, etc.

Niche of Commercial Lenders - A common misunderstanding is that all commercial lenders compete for the same customer. Even outside of the four credit buckets of A, B, C, and D credit that lenders individually target, there are numerous other exceptions that lenders make a decision about, including state of residence, titled or non-titled purchases, dealer or private party, minimum and maximum loan amounts, and equipment information (as listed in the above paragraph). Is the equipment really essential to the business? What about a down payment? Maybe you have $1,000 to invest in a piece of equipment or maybe you have $20,000? Is your credit score 550, 650, or 750? A knowledgeable professional should know exactly all of the options that open up for a borrower. JCF is committed to always having that knowledge. JCF knows where to place your business, saving you time and money, and ensures you have the right financing for your needs.

Communication - One of my main goals is for a client to never have to 'wonder' about the status of their application or the processing of their loan. For any of you that have finalized financing equipment with JCF, you know that we are not just accessible during office hours via phone or email. Every client has my mobile number, and we accomplish much communication via text. All texts are answered 7 days a week and most phone calls and emails are answered on the weekend as well. Time spent to process and fund your equipment is of the utmost importance as I understand how crucial it is to let your new equipment begin creating revenue for your business.

Creativity - Commercial lending is not always “cut and dry”. Businesses often have very specific needs, whether that be seasonal payments, structured in certain ways for tax reasons, or alternative methods to raise capital for down payments. JCF knows and understands these challenges and, more importantly, has the solutions for them.

Personalized Service - Who better to service your loan and to be your advocate than someone who has invested interest in your complete satisfaction? Most lenders understand that the broker-customer relationship is vital to obtaining honest and accurate information from the borrower; so much that the majority of commercial lenders will not even work directly with a customer. They want borrowers to be represented by a broker. By the way, if you haven't been through a commercial loan process yet, you may not realize that, outside of a rare exception, it is the lender that pays for your broker's services. Nothing will be asked of a customer up-front.

Trust - I have been self-employed and dealing with small business owners my entire professional life. There is no customer service that can be offered that is more important or has more value than obtaining a client's trust. JCF takes very seriously the trust and confidence that is put in with us, whether that be with your credit score, your personal information, matching you with the right lender based on your equipment, or your down payment - all giving you the peace of mind that you know that your business is valued by our constant communication and updates.

Our ultimate goal is that you feel that your experience with JCF is all of the above. Please know that I appreciate and value all who choose JCF for their financing, and it is never taken for granted.

Until next month,

Tim