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Dealing with Post-Recession Credit Issues

LOS ANGELES-Full disclosure of any and all issues ahead of time should be the rule, and will provide the best chance of securing financing, says GSP's Steve Bram in this EXCLUSIVE commentary.

By Steve Bram, principal and managing director, George Smith Partners | Updated on July 18, 2013

LOS ANGELES-Now that the recession is coming to an end, real estate sponsors are becoming more active. The challenge, however, is that many, if not most, of these sponsors had difficult lending issues during the recession which negatively affected their credit. As a commercial real estate loan broker for almost 30 years, I am regularly asked how to get new loans approved for these “credit impacted” sponsors.

To answer this, we must first identify the sponsor’s response to his lending issues. There were three main types of sponsors’ reactions, including:

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