Why Don’t More Business Owners Buy Their Own Buildings?

So, why don’t more business owners buy their own buildings? I think a lot of it comes down to fear of the unknown. They don’t know the process; they don’t know how easy it can be; perhaps there’s some concern about dealing with bankers. The reputation of bankers has taken a hit since the great recession. Oftentimes, it just comes down to, they don’t know what is possible and, like a lot of things in our society, working with specialists is probably your best bet. Working with people who know what they’re doing and are probably so focused on something like this–that’s probably going to deliver the best user experience for you. We hold the hands of a lot of our borrowers, metaphorically or literally in some cases, but this is all we do. I don’t want to do any other banking products or services other than financing commercial real estate, whether it be through the SBA 504 or our low LTV conventional product. This is all we want to do, so we do it literally every day. All we deal with is business owners. I’m not dealing with folks who want to buy investment property. I’m dealing with other users. These are people who are like me. These are people who sign the front of paychecks–not necessarily the back. These are the people who have to meet payroll every couple weeks. These are my people. These are who I like to deal with and it’s such a profound impact on their personal net worth. That’s what drives us every day. That’s why we’re sort of obsessed with this. That’s why we focus on this and why we haven’t expanded and gone into other products and services. We stay on this because, frankly, at this point, having done this for almost 20 years, I think we’re the best at this. I think we do it better. We do it faster. We have more care and concern than most other lenders out there, which, to a business owner, may just be a number to them, especially if they’re dealing with a too-big-to-fail bank or someone who’s just a target so they can move all their business accounts to that banker credit union. That’s not how we treat our customers, so this is why I’m motivated to do what we do. This is why we do it day in and day out. It’s a lot of fun. It gets me literally jumping out of bed every morning. A lot of times, you can find me here late at night because this is what we’re passionate about, so it’s very exciting.

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