APEX's products are designed for a borrower who requires non-traditional underwriting. During the preapproval process, we can quickly identify the borrower's likelihood to repay the debt by examining three key factors: 1) the value of the commercial property, 2) the monthly income generated by the property, and 3) the credit history of the borrower. Our standards are more liberal than in traditional bank financing, but we require one of our expert underwriters to speak directly with the borrower before each loan is approved. This step is necessary to ensure that the loan fulfills the objectives of the borrower, and that it fits within APEX's lending guidelines.
One recent transaction involved a borrower who required a substantial amount of money for an urgent personal matter. She owned a 5-unit building on the Upper West Side with no existing liens or mortgages. After quickly reviewing the collateral, the income-generated by the property, and the credit-worthiness of the borrower, APEX presented an offer that same day. During processing, our experts were able to identify and clear-up several title issues with the property, and the borrower was never inconvenienced. Within 18 days the loan was closed, and she had the cash she so urgently needed.
Another recent closing was for the owner of an auto body repair shop in Ozone Park, N.Y., who wanted to purchase a property to open a second location. He was turned-down by his local bank, and the seller was entertaining multiple offers. The borrower had 50% cash on-hand to complete the transaction, and APEX quickly provided him with the remaining 50% so he was able to acquire the property and expand his business by opening a second location, all within two weeks.
With 20 years of experience helping businesses grow, APEX Mortgage Company provides an alternative to traditional bank financing. Because APEX is a private, portfolio lender, we can accomplish things more quickly and effectively than a typical bank. Our small-balance commercial loans range from $25K to $400K, with the borrower's commercial property as collateral. APEX can accommodate all types of "story" loans and unique scenarios that traditional banks simply won't consider.
APEX prides itself on the speed and efficiency of our process, which is made possible by the quality of our originating brokers who send us the loans. Our mission is to provide prompt and professional service, while quickly getting to the heart of the deal. This September, APEX will begin our "Taking It on the Road" campaign, where we will be exhibiting at tradeshows in the New York metro area, as well as hosting "Broker Breakfasts" in New York and North Jersey.

Ken Markizon is the vice president of underwriting and business development at APEX Mortgage, Fort Washington, Pa. Tags: