"The road to success is not easy to navigate, but with hard work, drive and passion, it's possible to achieve the American dream. - Tommy Hilfiger" 2017 was an impressive year at Sterling Commercial Credit. Our brokers went above and beyond, closing 53 Deals in the amount of $15.3 Million! Keep up the good work and lets make 2018 even better!
Sterling Commercial Credit participated in Random Act of Kindness with 9 team members making deliveries to families in need this holiday season. Delivering hundreds of presents to all the local Brighton Area Schools for children less fortunate, Sterling made sure there were many more smiles on Christmas morning.
The 3rd Annual NACLB Conference was held October 17-19 in Orlando, Florida. The conference provides education and networking between brokers, lenders, and service providers.
Sterling Commercial Credit was proud to present Rudy Scholarships to four (4) student athletes at Brighton High School. Each student received $2,500 towards post-secondary studies of their choice. These students are able to reach higher, achieve more and fulfill their academic dreams.
Limited Spaces Available for May Training!
Sterling Cash Flow Partners is an exclusive opportunity for brokers who consistently perform above and beyond, and want to take their careers to the next level. We are now accepting applications for training May 16th to May 18th. Please visit www.SterlingCommercialCredit.com to learn more and to apply today!
Welcome our New Atlanta Team!
We are expanding our Atlanta Sales Office to include Credit and Underwriting Functions!
Joining Eric Benson on the Atlanta team will be former colleagues Tamara Wagner, with 14 years experience in underwriting and Dinah Carter, current Director of Sales at Sterling with 16 years of industry experience. With a combined 50+ years experience, Sterling Atlanta will team the funding capacity, servicing and online technology of a large lender with the flexibility and personal service of a small lender - the best of both worlds!
Send Sterling a qualified lead, and receive a $200 Gift Card!
Between March 15th and April 15, 2017 qualified leads which receive a written proposal from Sterling on BDO letterhead will receive a $200 gift card. Gift cards will be mailed after the NCAA Championship Game.
Sterling participated in a Random Act of Kindness with 9 team members making deliveries to families in need in the Brighton Michigan School District.
Thank you to Barb, Erin, Stephanie, Erica, Jill, Amanda, Emily and W. Edwin for all of your assistance Monday for the delivery of over 140 presents to all the local Brighton Area Schools for children less fortunate; there will be many more smiles on Christmas morning.
Back in August, The Sterling Commercial Credit Team hosted their 4th Annual Detroit Princess Riverboat Client Appreciation and Networking Event.
Business leaders from a variety of industries, such as Business Advisors, Brokers, Bankers, CPAs and Attorneys, all enjoyed lunch, cocktails, and great live music, while sailing the River!
Over 300 of the nation’s top commercial loan, leasing and mortgage brokers will be converging on Red Rock Resorts on October 4-6 to meet the top lenders and service providers that cater to the brokerage community. These brokers are responsible for over $5 billion in small business and commercial financing each year.
Sterling Commercial Credit is a proud sponsor of the Brighton High School Athletics Department. Come out and support the 2016 teams. Go Bulldogs!
”Axial allows you to get in front of a deal quickly. Being first to respond gets you a better turnaround rate. That’s what business owners want.”
Sterling Commercial Credit is a family owned and operated financial service provider specializing in short term commercial lending. Sterling’s mission is to engineer creative working capital solutions for growth minded entrepreneurs, which allows them to follow their dream with an industry leading, transparent commercial lending partner.
Invoice factoring means the sale of invoices at a discount in exchange for immediate cash. However, it needs to be seen which types of businesses should avail this form of business financing. Here is a list:
According to the latest statistics, it has been revealed that traditional lending is showing a downward turn and people are showing interest in asset based lending. In fact, growing by the uptrend in the asset based lending, it is expected to grow even more in the future. The overall volume of small business loans has been sliding down according to FDIC.
Vol. 27, No. 1, January 2015
Asset-based lending comprises of many different kind of loans that can be granted to a borrower wherein some kind of assets serve as the security. Factoring & asset based lines of credit are the two common type of asset-based loans which are practiced.
By Karen L. Small
Founding Partner of Sterling Commercial Credit
Sterling Commercial Credit (SCC) is committed to those small to mid-sized businesses (SMBs) with annual sales of $500,000 – $25Million. This is something that we’re compelled to do. We have an opportunity to inject working capital in non-conventional ways. Without it many SMBs wouldn’t survive. Being an entrepreneur for the past 15-years, I can truly understand what it takes to walk in their shoes. I have lived every side of the ledger from banker, borrower, lender, business owner, loan guarantor, and even a collateral field examiner.
Why Banks Reject Loan Applications
For small business owners looking for a loan for their growth it can be very difficult to find a financial partner. Unlike invoice factoring, it is very difficult to get the approval for a small business loan (under $250,000) from a bank. In fact, it is a very lengthy and complicated process. There are some common themes which can prevent you from getting the funds from a bank, which you need for your business.
When businesses, no matter what size they are of, are in need of fund, the commonest option for them today is commercial factoring. Small, medium and even large companies prefer factoring to bank loans. One prime reason is that commercial factoring helps you get cash in less than 24 hours, while banks will take a considerably long time, if at all they sanction the loan, which they do not do on most occasions.
Asset-based lending was once considered the least preferred among all the traditional financing options but is fast gaining popularity now. Asset-based lending has become a favourable choice for companies that do not enjoy a track record or credit rating sufficient to qualify for other type of financing.
Many successful businesses face cash flow challenges each week juggling the short term assets and short term liabilities. Often times this is a simple comparison of Accounts Receivables and Accounts Payable and the Checkbook. If Sales is the blood of a business than cash flow is the heart of the business. Having access to cash is critical to the success of any business manager. Time and time again I meet Entrepreneurs who have large projects and purchase orders in hand, but not enough CASH FLOW to execute to start working on them.
All Deals Closed between April 15th and July 31st
will be rewarded with a YETI Give-a-way!
*Prizes will be shipped out monthly based on the size of the loan closed. To learn more about Sterling's Spring Special and to Submit Your Deal, see below.
Character | Ambition | Commitment | Courage | Contribution | Leadership
Preparation is what comes from struggle. Knowledge comes from preparation. These are the elements that pave the road to your Dream. If we do not prepare, we will not succeed. Set your goals and pursue your Dreams with all your heart. If you miss a goal, don't quit. Reset it! You just need to learn more...step by step, you will win!Rudy Ruettiger
Sterling Commercial Credit would like to thank the Referral sources for the 22 new leads during the March Madness Tournament. Each Referral source will receive a $200 gift for the promotion. A special thanks to:
Trey Pearce
Wayne Cantwel
Mark Allen
Aaron Gaffner
