Medical Office Building Financing News + More: Nonprofit cancels event at Trump golf course in New Jersey + MORE 08/22/2017

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Sourcing And Seasoning Assets. Seasoning of Ownership!

This particular problem will not be relevant to all business borrowers. However, if it is relevant, you should seek out a lender without sourcing and seasoning requirements or limitations. Most banks have strict guidelines for sourcing and seasoning of assets or ownership to qualify for commercial real estate loans. For a purchase, commercial lenders will frequently want documentation about where the down payment is coming from (sourcing). Commercial lenders will also frequently have very specific requirements stipulating that the funds must have been in a specific account for a specific period of time, often 3-6 months or longer (seasoning). Seasoning of ownership is similar to seasoning of funds, except this requirement involves the minimum time someone has owned a commercial property before they can refinance the property.

Now an upcoming event at one of Trump"s New Jersey golf courses has been canceled.

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A former lottery worker was sentenced to 25 years in prison on Tuesday for rigging the system in several states so he could collect the jackpots.

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President Trump"s first prime time address averaged 28 million viewers across the United States, according to the ratings company Nielsen.

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A charity that decided to cancel a fundraiser at President Trump"s Mar-a-Lago club now says it could run into financial trouble.

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