Ken Altena, Partner, Billboard Loans. I have 35 years experience lending to out of home companies. My Billboard Loans business partner Dave Westburg and I were reviewing one of our old out of home lending white papers and decided to write an article on how the out of home […]
Author: Ken Altena
Out of Home banker Ken Altena says know what you’ve pledged
At Billboard Loans, we get a lot of inquiries for secured loans. Most out of home companies understand the general concepts of security and collateral but very few understand the details. Here’s a short lending quiz. Your lender has a security interest in all your assets.True or false. Your lender […]
The reps and warranties an out of home lender wants to see.
Following up on the recent articles in Billboard Insider, I thought it would be beneficial to talk about the representations and warranties that lenders require. Typically, if you borrow, these reps and warranties are non-negotiable. They start the first day you borrow and extend “at all times any indebtedness exists.” (Quotation […]
Understanding Commercial Loan Documents
Many first-time commercial borrowers are shocked by the number and complexity of loan documents to get a “simple” business loan. As a retired banker, I can assure you it is no picnic for lenders either. Almost everyclause in every document has been added due to something that has gone poorly […]
