August 20, 2018

Prepayment Penalties on Commercial Loans – Are They Negotiable?

When getting a commercial loan one item you might forget to ask about are prepayment penalties. Forgetting to ask might be an expensive mistake if in the next five years you refinance or make a significant reduction in your loan balance. Why do lenders charge prepayment penalties? Although it might seem like […]
December 19, 2016

Commercial Loan Rate Survey – Florida

Commercial Loan Rate Survey – Florida By: John Patterson CFP ® Up, up and away. Unfortunately Cats & Kittens, interest rates have recently gone up and future rises in interest rates in 2017 looks probable. The prime rate just rose ¼% and is now at 3.75%. In a little over a month the 5 […]
October 26, 2016

Five Red Flags to Spot a Predatory Small Business Lender

Predatory lending is any lending practice that imposes unfair or abusive loan terms on a borrower. It is also any practice that convinces a borrower to accept unfair terms through deceptive, coercive, exploitative or unscrupulous actions for a loan that a borrower doesn’t need, doesn’t want or can’t afford. Scenario: Despite trying your best your […]
March 22, 2016

Commercial Loan Rate Survey – Florida – March 2016

Commercial Loan Rate Survey –  Florida – March 2016  By: John Patterson CFP ® March 23, 2016 Spring has sprung but interest are holding steady as we head into the end of March. Although the Federal Reserve Board did not change the Federal Funds Rate when they met on March 16th, outside […]