Phil Grossfield's Blog


No Payment & Subsidized Payment Business Loans

My Dad was a couple weeks shy of 80 years before he passed last week. He battled Alzheimer’s for the better of 20 years…the last 5 years were extremely challenging. His unyielding positive attitude was Dad’s best characteristic and he never lost it despite the efforts of the viscous disease. He was (and remains) my moral compass and set an example of the highest work ethic which is what made him the #1 salesperson for 40 years with Champion Products sportswear. With his guidance I became a record-setting salesperson myself and came to appreciate the dedication required to achieve that level of success.

I feel like I joined a club for those who have lost a parent, and it’s the worst club in the world. I was lucky to have him in my life for as long as I did.

WBL Products…My Guidance & Highlights

  • NO PAYMENT & SUBSIDIZED PAYMENT LOANS. We make loans with no payments for a period of time or for the entire term of the loan. We also have subsidy programs to reduce the loan payments to ease the pressure on a growing business. Given equity in real estate as collateral, we can structure a loan that makes sense for the current and future economics of the Merchant/Borrower.
  • Always Ask Merchant/Borrower If They Have Real Estate. If your Merchant Borrower has equity in real estate, then WBL should be your first call as a potential business lender. July 25, 2022.
  • What Real Estate Will Be Acceptable As Collateral? WBL will accept virtually ANY real estate type…and, we can use multiple properties together for one loan by cross-collateralizing to max the lendable equity. July 25, 2022
  • To Qualify For A Business Loan. (1) Equity in Real Estate – we’ll utilize virtually any type and combination of real estate in any condition, and (2) Revenues – sufficient to support/afford the loan payments – we’ll need 3-6 months of business bank statements to see what revenues are deposited. If we have these two, we can overcome just about any hurdle…

The Market…My Take

  • How Does Raising Fed Interest Rates Battle Inflation? Simply put, the Fed raises rates to slow consumer spending so prices will fall…let me explain. The Fed controls the Fed Funds Rate which they have been raising in the hopes of indirectly changing consumers’ spending behavior…your spending behavior. By increasing the Fed Funds rate, they directly impact banks by making it more expensive for them to borrower money…yes, banks borrow money from each other all the time (but that’s another topic). If it costs more for a bank to borrow, guess who they pass that added expense to? Yep, it’s you! That makes it more expensive for us regular hard-working folks to borrow money. If it’s more expensive for us to borrow money, then we’ll borrow less, and when we borrow less, we spend less. That makes sense, right? So when we spend less as a community, then demand will fall. When demand falls, prices will fall to encourage more spending. Stores will start putting goods on sale, and so on. Simple.

Resource Links, Process & Loan Intake Instructions

  • Appointment Link – Get On Phil’s Calendar.
  • Flyer For Independent Sales Organization – ISO — Phil Grossfield
  • Email the Loan Opportunity To Me. Send (1) an Application with all the Merchant/Borrower’s information including their mobile number and email address, (2) a full description of the real estate or download this Excel REO Schedule , and (3) a minimum 3-months business bank statements (6 months is better if you have it).
  • Process. After I send the loan opportunity to our Intake Department (see above), I’ll receive preliminary feedback on the real estate collateral, affordability, and any other considerations. On the same day or next, I’ll present to our Market Clearance team for loan structure guidance. Then you and I will discuss and decide what to Offer the Merchant Borrower. If accepted, then we’ll send the Borrower Merchant an authorization form and formally submit the loan.

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