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Frequently Asked Questions
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1. |
Why not just go to
our local bank for our capital needs? |
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Obtaining financing from traditional sources, such as your local bank, doesn’t
always provide the best solution for a company. Often, these traditional funding
sources may be good at one or two types of financing, but even then they
probably won’t provide you with as favorable terms as you could get through a
specialized source.
Since Enterprise Financial Partners
is not limited to just one or two loan programs or one or two
sources of funding for that matter, we’ll strive to find the most
appropriate and competitive lending partner for your specific needs. |
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2. |
Who composes your firm's network of
commercial lenders and finance/mortgage providers? |
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Enterprise Financial Partners works with a national network of commercial
lenders and finance/mortgage providers that includes commercial banks, finance
companies, investment banks, CMBS/conduit lenders, insurance companies, hard
money lenders, private money lenders, hedge funds and mezzanine lenders, as well
as leasing and factoring companies. This range of loan and finance partners
allows us to find and customize the most appropriate solution to fit the need. |
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3. |
Does your firm underwrite
the loans? |
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Yes and no. In most cases, Enterprise Financial Partners will take your
information and conduct our own internal underwriting and then translate that
into a concise report that our lenders typically require. By doing so, our
lenders can quickly assess the proposed company and its credit need, and then
underwrite the request based upon their own underwriting criteria. Our primary
job is to be your advocate and help you connect with these lenders to find the
right match for your loan or finance/mortgage need |
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4. |
What’s your firm’s minimum loan amount? |
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While Enterprise Financial Partners doesn’t have a minimum loan amount per se,
except that we’ll not normally accept engagements under $100,000, most of our
transactional engagements typically start at $500,000 with no set upper limit.
You should also be aware that most lenders have both minimum and maximum loan
amounts as well, which may prohibit some companies from working with those
lenders. |
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5. |
Will there be any
upfront fees? |
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Most transactional engagements are structured on a “success fee” basis, meaning
that most of the fee is earned by Enterprise Financial Partners when a lender or
finance provider is found that meets your objectives. What that also means to
you is that only a nominal fee is typically required on the front end of the
engagement, which is used to cover incidental expenses such as credit reports on
the principals involved in the transaction. Our on-going financial advisory
engagements are negotiated on a case-by-case basis. |
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6. |
How much
documentation is typically required? |
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The process utilized by Enterprise Financial Partners is fairly streamlined, and
the amount of documentation required will depend upon the program you wish to
pursue and the complexity of the request and/or project being considered.
Once we gain an understanding of your
loan or finance/mortgage objective and financial situation, we’ll
provide you with an overview of the loans and/or programs applicable
to your situation and then request that you provide us with an
initial list of items we’ll need to process your request. In some
cases, we may need to obtain financial statements or tax forms and
other supporting documentation; in other situations, we may only
need a completed application. |
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7. |
Do I need to
provide a business plan? |
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Most of the lenders and finance/mortgage providers Enterprise Financial Partners
works with don’t require formal business plans as part of their underwriting
process since we normally provide them with a loan package that includes an
executive summary describing your company or project and a description of the
loan or finance/mortgage need being requested. In other situations, however, the
client may be required to put together and submit a formal business plan in
order to attain the targeted financing (e.g., certain mezzanine loan lenders may
require this). |
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8. |
How long does it
take to receive a decision on financing? |
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In most cases, conditional term sheets can be obtained by Enterprise Financial
Partners in a matter of a few days to a couple of weeks; a lot will depend on
the complexity of the financing need as well as the loan or program being
pursued. For example, a term sheet can normally be produced for certain types of
bridge loans in a matter of a few days, assuming certain information is readily
available for the underwriting process. Actual closings will vary depending on
the type of loan and whether or not real estate is involved in the transaction. |
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9. |
How can your firm help
ensure I receive a competitive loan or finance proposal? |
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Because of the large network of
commercial loan and finance/mortgage providers Enterprise Financial
Partners works with, we’re reasonably confident that our clients
won’t be disappointed with their end results. Keep in mind, however,
that we can’t guarantee any particular outcome either. |
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10. |
Should I consider
refinancing my business or commercial real estate loan? |
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The answer to this question will depend on several factors; most notably, what
it is you want to accomplish through refinancing. For example, if you believe
you’ve outgrown your credit relationship with your current lender because they
aren’t able to provide you with the type of financing you’re seeking, it may be
time to refinance.
Additionally, if you possess a
commercial real estate loan that was originally financed when
interest rates were higher than they are currently, chances are
Enterprise Financial Partners can help you attain more favorable
terms, including a more favorable interest rate and loan
amortization, through a refinance that could save you thousands of
dollars each year. |
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11. |
What if I operate in an industry, such as the restaurant industry,
that's not always well received by many lenders; can your firm assist me
with my financing? |
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In most cases, yes. Since most lenders and finance/mortgage providers tend to
focus on their favorite types of industries, etc., Enterprise Financial Partners
will seek out those lenders and finance/mortgage providers that best match your
financing objective—whether it’s to finance working capital for a manufacturing
company or provide permanent financing for a restaurant. Once we understand your
loan or finance/mortgage objective, we’ll be in a better position to know if
we’ll be able to help you. |
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12. |
Does your firm work with companies who are deemed to be a
distressed, turnaround and/or workout company? |
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Yes, Enterprise Financial Partners can assist companies who need more than just
a simple refinance of their existing credit facility. If your current banking or
finance/mortgage relationship has become strained due to financial performance,
or if the creditor has requested that you find a new lender or finance/mortgage
provider to work with for other reasons, we can normally help you find such a
lender or finance/mortgage provider who is better suited for your current
situation. |
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13. |
How do I get started? |
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Simply go to either the:
and submit a description of your commercial finance or mortgage need. Or, go to
the
Contact Us page and e-mail or
call Enterprise Financial Partners directly. We’re ready to help you reach your
commercial finance and mortgage objectives. |
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