Clark Street Capital’s Bank Asset Network (“BAN” proudly presents: “The $8MM High Performing C & I Relationship.”  This exclusively-offered loan relationship is comprised of two loans offered for sale by one bank (“Seller”).   Highlights include:

• Two high performing Commercial and Industrial (C & I) loans with $8.5MM in total commitments; $7.9MM currently advanced
• Attractive adjustable rates at WSJ Prime + 1%
• Well-collateralized with an LTV of 40% on a diversified investment portfolio
• A total DSCR of 4.68X
• Strong sponsorship
• Two years of solid pay history
• Ability to acquire a depository relationship
• Borrower relationship in the Mid-Atlantic
• Offered exclusively to financial institutions

Some banks might be skittish about selling nonperforming assets in bulk, but
the market clearly likes it when banks shed problems en masse.

Click here for the story.

SBA 504 Webinar: The Inside Scoop for Loan Buyers
Thursday, December 08, 2011 at 10:00 AM CST

SBA 504 Program:
Background & Benefits
Bank Participation & CDC Participation
New 504 Refinance Program

Liquidations:
Issues & Pitfalls
Opportunities

The 504 First Mortgage Pooling Program (FMP):
Get the Scoop on Pool Originators and Securitization. A unique opportunity to secure a government guarantee on certain assets.

Panelists:

Jon Winick, President, Clark Street Capital

Mitch Fogel, Esq., Fogel Law Group

Jordan Blanchard, President, Wholesale 504 Lending Consultants

Highlights include:

A total unpaid principal balance of $137,222,347, comprised of 81 loans ($125,388,688) and 13 REO properties ($11,833,658)

• 85% of the assets originated as SBA 504 1^st Mortgages
• 81 loans with a weighted average coupon of 6.43%
• Prepayment Penalties remaining on 81 of 83 loans
• Performing loans ($91,280,472) have a weighted average LTV of 69.47% with a weighted DSCR of 1.79X on the Bank’s debt
• Total Non-Performing Assets of $46MM, including loans of $34.1MM and REO of $11.8MM
• A nationwide portfolio representing 27 states, including Florida (23.9%), Texas (8.9%), Ohio (8.3%), Michigan (6.9%), and California (6.8%)
• Property types include Hotels (65%), Retail (18%), Industrial (6%), and Office (6%)
• All loans are whole loans secured primarily by first mortgages on real property with personal guarantees
• Four Pools comprised of 15 Sub-Pools ranging in size from $1.1MM to $22MM

Please read the executive summary for more information on the portfolio.  You will be able to execute the confidentiality agreement to begin your due diligence.

Our co-sponsors included the American Bankers Association, McGladrey, Stonecastle, and Horgan Rosen Beckham & Coren.

The Powerpoint slides are available via download here

The audio broadcat can be downloaded here