What we do?
Former Business attorney Richard Lonschein started Prestige Capital Solutions as a result of seeing many of his clients failing to obtain bank loans or the financing they needed in order to maintain or expand their business operations. Unfortunately today banks turn down more than 80% of business loan applications they receive. Richard did extensive research and recognized the rise of “alternative lending sources.”
He understood how these type of lending products could help struggling businesses obtain the financing they needed and as a result, he referred his clients to these lenders and began developing relationships with many of these alternative loan lenders.
As a result of seeing his clients successfully obtain the financing they needed, as well as the success they enjoyed, he decided to start Prestige Capital Solutions. The goal of this company is to help small businesses succeed by matching business owners with the appropriate lending sources. This gives Richard great pride knowing that he plays a crucial role in helping small businesses compete and thrive in today’s business world.
Prestige Capital Solutions essentially plays the role of matchmaker matching businesses with the right lenders.
Business owners are able to leverage our knowledge of today’s business lending landscape. We have relationships with various lenders and understand their guidelines. As a result we are able to offer businesses with better rates and better terms. We also help save business owners much time and effort. Depending on the loan product it is not unusual for us to help our clients get access to capital in as little as 48 hours. The underwriters know us and they know that we bring them many clients, so the process is streamlined and we help collect all of the proper paperwork.
We can be compared to real estate brokers who match home buyers with houses, the difference is we match business owners with business capital. Another great thing for business owners that we work with is that our services are free to them, as we are compensated by the lender and only if our client successfully receives the funds.
Shaping the future.
What is a Commercial Finance Consultant?
A Commercial Finance Consultant essentially serves as a middleman bringing business borrowers and business lenders together. He or she does not work for either party, as his or her role is to facilitate the transaction for both parties and perform the various tasks as well as get the necessary paperwork done in order to make the deal happen from the beginning to the end.
A professional Commercial Finance Consultant understands all of the various lending products that exists in the business loan landscape and has developed relationships with many lenders and knows and understands their individual requirements and processes. His or her job is to learn exactly what the business’s individual goals and needs are and then goes out and locates the right loan products
A professional Commercial Finance Consultant role is to explain exactly what the terms of the business loan will be and educates and guides the business borrower through the process so they understand exactly what they will ultimately receive.
A professional Commercial Finance Consultant is compensated by the lender only when the transaction is actually funded. He or she is only concerned with placing the business borrower with the the right lender for a particular transaction. The ultimate goal of the consultant is to make the transaction go as smoothly as possible so to ensure that both parties of the transaction are happy with the final outcome.
Prestige Capital Solutions never charges any upfront or “application fees” Our job is to get the application correctly filled out, collect all of the necessary supporting documentation that a lender will require, and work with the lender’s underwriting department to ultimately get the loan approved, the loan funded, and money wired into the business owner’s bank account.
The real value of using a professional Commercial Finance Consultant is to leverage their knowledge and their specific lender relationships, in order to receive the best possible loan terms, help you save time and effort and ultimately make sure the lending process goes as smoothly and efficiently as possible.
You can look at it this way, When looking for a house to buy you can do all of the legwork on your own, but it becomes much more difficult and time consuming than it would be if you used a knowledgeable and experienced real estate broker to help you locate the right home and guide you through the entire transaction.
A professional Commercial Finance Consultant plays the same role in the business loan industry, saving you time,much effort and ultimately getting you the result you want which is the right business loan with the best possible terms.