Livingston Reporting - page 13

Dealing with Pack Rats in Colorado: Key Signs and Prevention

Pack rats, also known as wood rats, are a prevalent nuisance in Colorado. Often inhabiting wild areas, they tend to invade homes for food and shelter. They are notorious for collecting items from houses to build nests in hidden spots like walls and attics (hence the name). Contact a professional pest control agency ASAP if you suspect a rodent infestation, as the damage they cause can be extensive and expensive to fix.

Pack Rats: The Hoarders of the Rodent World

Pack Rats or wood rats are similar to standard house mice, except they are slightly bigger with a bushier tail. They are known for their peculiar habit of collecting various objects to build their nests, which, over time, may become problematic as the gathered materials can block vents, damage insulation, and create fire hazards. You will notice that small household items disappear as they are attracted to shiny objects. Pack rats often inhabit rocky areas, but like mice, they can invade homes, garages, and outbuildings in search of warm shelter. These nocturnal creatures are particularly active during the fall and winter, seeking refuge from the colder temperatures.

Recognizing Pack Rat Infestations

Nest Locations: Pack rats typically build their nests in secure, warm places like attics and walls, often under eaves, porches, or decks. They can enter homes through existing holes made by other animals. Finding nests in these areas is a strong indicator of an infestation.

Noises in Walls: Hearing rustling sounds inside your walls can signify pack rats. These noises often indicate their presence as they seek safety from predators indoors. Since they can chew through materials like wiring and insulation, it’s important to address this early to prevent severe damage.

Rat Droppings: Discovering mouse feces is another sign of an invasion. These droppings are unsanitary and can pose health risks due to the diseases these pests can carry.

Management and Preventive Measures

Effective management of mice and pack rats involves a combination of prevention, exclusion, and removal. Homeowners should focus on sealing cracks and openings in the home’s exterior, reducing clutter, and keeping food in sealed containers. Regular inspection of attics, basements, and storage areas is also vital to detect any early signs of rodent activity.

For pack rats, reducing outdoor debris and clutter can make your property less attractive to them. Since they are attracted to shiny objects, be mindful of leaving small, reflective items outside. Be sure to seal off potential entry points, such as gaps around pipes, windows, doors, and siding boards. Regular inspection and maintenance can help identify and block these access points early. Homeowners should be vigilant about maintaining cleanliness and reducing clutter to deter these unwelcome guests.

If you suspect a rodent problem in your Colorado home, contact Front Range Pest for prompt removal and cleanup services. We deal with infestations of all sizes safely and effectively. Remember, the sooner you address the issue, the easier it is to prevent significant damage and health hazards.

Suspect a rodent intrusion? Contact Front Range Pest today for prompt assistance! 

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Front Range Pest is your trusted, family-owned pest and wildlife control company serving central Colorado and southern Wyoming. Our certified technicians have the expertise and credentials to ensure effective pest management for your home or business. As your all-in-one insect and wildlife specialists, we offer peace of mind by identifying wildlife entry points, removing nuisance pests, sealing access areas, performing cleanup, and making essential repairs. Schedule an inspection with us today.

Written by the digital marketing team at Creative Programs & Systems: www.cpsmi.com

Zoning for DC Fast EV Chargers in Communities

Local land-use choices play a crucial role in successfully and efficiently establishing a comprehensive network of electric vehicle (EV) chargers for public use. Additionally, the traditional approach to zoning for gas stations is no longer entirely applicable to the evolving world of vehicle fueling/powering infrastructure.

The rapid adoption of EVs has brought the need for adequate charging infrastructure. However, one of the critical challenges facing many communities is the zoning for EV chargers, especially Direct Current Fast Chargers (DCFC). As the demand for EVs continues to rise, local governments and city planners must proactively adapt their zoning regulations to support this green evolution.

Zoning for EV chargers, particularly DCFCs, involves several factors. First, these chargers require strategic placement to be effective. Ideally, they should be located in areas easily accessible to drivers, such as near highways, shopping centers, and densely populated residential areas. This ensures EV owners can conveniently charge their vehicles without going significantly out of their way. However, this placement must be balanced with the potential impact on the local grid, as DCFCs draw a considerable amount of power. Therefore, collaboration with utility companies is essential to ensure the local electrical grid can support these high-powered chargers.

Zoning regulations must be updated to accommodate the physical requirements of EV charging stations. This includes considering the size and number of parking spaces required, as well as the additional infrastructure like transformers and electrical panels. Local governments should also consider aesthetic concerns, blending installations within the community’s architectural and landscape design.

Zoning for EVs

These four factors are essential in guiding how EV charging stations are integrated into zoning regulations. When incorporating EV charging infrastructure into local zoning codes, it’s crucial to consider these aspects from a land-use viewpoint: 

  • Duration of Use: Determine whether the chargers are intended for brief or extended usage periods.
  • Quantity at a Location: Assess the number of chargers installed at a single site.
  • Accessibility: Consider whether the chargers are available to the public or restricted to certain groups like customers, employees, or residents.
  • Payment Responsibility: Identify who bears the cost of charging – the user or the site’s owner/operator.

How Does Zoning Promote the Expansion of EV Infrastructure?

In recent years, there have been two important changes occurring with zoning. Zoning definitions are getting more precise by differentiating installations that are EV capable or ready from those with a Level 2 or Direct Current Fast Charging station. Second, zoning codes require higher percentages of parking spaces to be set aside for charging. Analysis suggests that communities incorporate the following practices in their zoning codes:

  • Clearly categorize the different types of EV charger applications.
  • Specifically, allows for accessory functions.
  • Establish parking design or performance criteria.
  • Formulate a standard for mixed-use development.

The zoning for public EV charging infrastructure is complex but essential for communities. It requires a thoughtful approach that balances the needs of EV drivers with the capabilities of the local infrastructure and the aesthetic and functional requirements of the community. As more people turn to electric vehicles, the cities that plan ahead and adapt their zoning regulations will be best positioned to lead in this new era of transportation.

Inquiring about EV charger infrastructure for your home or business? Contact State Electric Company for a Free Quote today!

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State Electric Company is a leader in the electrification of the nation. Our highly educated and experienced team of professionals uses industry-leading software technology and has partnered with manufacturers to deliver affordable solutions for all your electrical needs. State Electric Co. is also an exclusive distributor of Enel X JuiceBox EV chargers for residential and commercial use. We are fully licensed, insured, and bonded to install charging stations for homes, offices, hotels, and more. With our extensive knowledge of renewable energy, our team provides customers – large or small – with efficient electrical solutions. Contact us today to learn how we can safely and affordably meet your energy needs. 

Written by the digital marketing team at Creative Programs & Systems: www.cpsmi.com

Michigan’s 1st 3D Printed Home

Detroit is close to completing Michigan’s first 3D-printed home, a significant milestone in the state’s housing industry. The residence, located in Detroit’s Islandview neighborhood, is a two-bedroom, one-bath single-family house with a green stucco exterior, spanning 1,000 square feet. Developed by the nonprofit Citizen Robotics, this project represents a significant step forward in construction technology, aiming to be more cost-effective and energy efficient.

This innovative home was constructed using a refurbished robot from the auto industry to print its exterior walls and other parts. The process involves layering a special mortar to create the structure, showcasing a shift towards digital and sustainable construction methods. The 3D printing technique is praised for its efficiency, requiring fewer people, taking less time, and being less expensive than traditional construction methods. It also boasts greater strength and resilience against major storms.

Despite the advanced technology, the cost of this 3D-printed home, set to be sold for $224,500, is higher than the median home price in Detroit. However, long-term savings are expected for homeowners through reduced energy and maintenance costs. The project, funded and supported by the Michigan State Housing Development Authority, is seen as a pilot for future developments.

The broader 3D home printing industry in the U.S. is gaining traction, with numerous projects nationwide, including a 100-home development in Texas. This method addresses challenges like material costs, labor shortages, and environmental concerns in traditional construction. As the industry evolves, it is expected to become more accessible and cost-effective, potentially reshaping the future of home building. Citizen Robotics and other innovators in this field are optimistic about the potential of 3D-printed homes to provide sustainable, affordable housing solutions.

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JFC Remodeling is committed to providing top-quality home reconstruction services to clients throughout Livingston County. With over 30 years of experience in the industry, our licensed contractors create unique, individualized, and polished renovations. Whether the site requires an improvement, repair, or is a new construction, you can trust our experts to deliver remarkable results. Call or email us to learn more.

Written by the digital marketing team at Creative Programs & Systems: www.cpsmi.com

WSU Veterinary Hospital Installs a New Linear Accelerator to Fight Cancer

Washington State University’s Veterinary Teaching Hospital has significantly advanced its cancer treatment capabilities by installing a new linear accelerator (LINAC). This state-of-the-art technology is set to revolutionize the way cancer is treated in pets, offering advanced radiation therapy that can not only prolong lives but potentially cure various cancers.

Dr. Janean Fidel, a veterinary oncologist at WSU, emphasized the transformative potential of this machine in treating a wide range of cancers, including mast cell tumors, soft tissue sarcomas, and cancers affecting the oral, nasal, and brain regions. The new LINAC stands out for its precision in targeting cancer cells while minimizing damage to surrounding healthy tissues, a critical aspect of effective cancer treatment.

The installation of this LINAC, which involved fundraising efforts since 2018 amounting to over $1 million, replaces an older model acquired in 2010. Despite serving over 3,500 animals, the previous machine was plagued with frequent malfunctions. The new LINAC is a technological leap forward, offering enhanced accuracy, speed, and safety. It boasts submillimeter targeting accuracy and high dose rate delivery, greatly improving treatment outcomes by reducing unnecessary radiation exposure to healthy tissue and shortening treatment duration.

A notable feature of the new LINAC is its onboard imaging system, allowing operators to precisely locate tumors just before treatment, ensuring accurate alignment with the radiation beam. This system is a significant upgrade over older models that relied on film for imaging, which was less efficient and offered lower image quality.

The WSU oncology team has undergone extensive training to utilize this advanced machine. Dr. Raelynn Farnsworth, the chief medical officer of the Veterinary Teaching Hospital, expressed gratitude to the donors who acquired this technology. This new equipment is expected to provide exceptional cancer treatment for pets, a rare service in the region.

Reference the original article at WSU.edu/news here.

Need linear accelerator parts or service? Contact RadParts today!

RadParts, a TTG Imaging Solutions Company, is the world’s largest independent distributor of OEM replacement parts. We specialize in low-cost parts for repairing linear accelerators and radiation equipment. Our mission is to provide high-quality, user-friendly, low-cost components and support for linear accelerators and radiation equipment. Contact RadParts at 877-704-3838 to learn more.

Written by the digital marketing team at Creative Programs & Systems: www.cpsmi.com

Unlocking the Benefits: How a Water Softener Can Help

If you’ve ever dealt with hard water issues in your home, you may have heard about the magic solution known as a water softener. But what exactly does a water softener do, and why is it essential for households dealing with hard water? In this article, we’ll dive deep into the world of water softeners, exploring their function, benefits, and the difference they can make in your daily life.

Understanding Hard Water and the Effects of Iron and Manganese

Hard water contains high concentrations of minerals, primarily calcium and magnesium ions. These minerals are naturally present in groundwater and can create household problems when they accumulate in your plumbing and appliances.

Hard water-related issues encompass the corrosion and scaling within pipes, pervasive staining in showers, bathtubs, and sinks, and your water heater’s premature wear and tear. Scale build-up inside water heaters can insulate the temperature sensor within the tank, causing them to work harder to reach the desired temperature. Iron and manganese in water can also lead to unsightly rusty or black/brown staining and corrosion within the home.

What Does a Water Softener Do?

A water softener is a household appliance designed to combat the adverse effects of hard water. It operates using an ion exchange process, which involves removing calcium and magnesium ions from the water and replacing them with sodium or potassium ions.

A water softener proves highly efficient in eliminating the presence of hard water minerals, dissolved iron, and manganese in private wells that supply homes throughout Michigan. While the Environmental Protection Agency (EPA) has not established specific limits for water hardness, these minerals, namely magnesium and calcium, can significantly compromise the quality of your home’s water. The EPA has set maximum allowable levels for iron and manganese as secondary contaminants at 0.3 and 0.05 parts per million, respectively. Although these concentrations seem minute, their impact can be quite substantial.

When addressing elevated levels of hard water minerals, iron, or manganese in your well water, the recommended solution is water softening.

What Does a Water Softener Remove?

A water softener effectively eliminates dissolved forms of iron, manganese, and hard water minerals. A cartridge filter with an appropriate micron rating becomes necessary to address particulate iron or manganese. Depending on the specific water conditions, this may involve using a series of filters with varying micron ratings to tackle higher levels of these contaminants in the water. A water treatment professional can best determine the suitable micron rating and filter style based on water test results and other relevant indicators.

How Does a Water Softener Work?

  • Ion Exchange: Water enters the water softener tank, flowing through a resin bed made of tiny resin beads. These beads are negatively charged, attracting positively charged calcium and magnesium ions.
  • Removal of Hardness Minerals: As the water passes through the resin bed, the calcium and magnesium ions bind to the resin beads, effectively removing them from the water.
  • Regeneration: Over time, the resin beads become saturated with hard minerals. The water softener flushes a brine solution (a saltwater mixture) through the resin tank to regenerate the resin and continue the softening process. This brine solution displaces the calcium and magnesium ions and recharges the resin beads with sodium or potassium ions.
  • Softened Water: The treated water, now free of calcium and magnesium ions, exits the softener and flows into your home’s plumbing system. This softened water is less likely to cause scale buildup, soap scum, or other hard water-related problems.

The Benefits of Using a Water Softener

There are many benefits to using a water softener, the primary being scale prevention. A softener prevents the accumulation of scale deposits in your pipes, appliances, and fixtures, which can extend the life of your plumbing system and appliances. With reduced scale buildup, your water heater and other devices will use less energy, potentially saving costs. Softened water is also gentler on your skin and hair, leaving you feeling cleaner and reducing dryness and irritation. It allows soap to lather more efficiently, reducing the amount of soap and detergent needed for cleaning and laundry.

A water softener is a valuable addition to any home or office facing challenging water issues. It’s a simple yet effective solution that can make a noticeable difference in the quality of your water. Consider installing a water softener or conditioning system to enjoy the many benefits of clean, softened water.

Contact Reynolds Water Conditioning today to discuss water solutions for your home or office!

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Reynolds Water Conditioning was established in 1931 and is Michigan’s oldest water conditioning treatment company. Still owned and operated by the Reynolds family, we take pride in providing the highest quality products at a cost-effective price. If your tap water lacks the quality you deserve, contact us today at 800-572-9575.

Written by the digital marketing team at Creative Programs & Systems: www.cpsmi.com

Gifting Support to End Cancer

Here at J&P, we are all too familiar with the heartache that comes from losing a loved one far too soon. Cancer is the second-leading cause of death worldwide. Ten million people die from cancer every year.

A donation to the American Cancer Society is more than a financial gift. It is a lifeline for the entire cancer community and one more step toward a future without cancer.

Because of generous, passionate donors, The American Cancer Society can improve the lives of people with cancer and their families through:

•           Providing essential patient support

•           Advocating for important issues like health equity and more affordable care for all

•           Funding breakthrough research that saves lives

If you, our loyal customers, are seeking a way to help an incredibly important cause, please join us in making a tax-deductible donation to the American Cancer Society and help us get one step closer to a future without cancer.

Donate to the American Cancer Society Here

The J&P Electrical team sincerely appreciates your support for this cause. We wish everyone a blessed and delightful holiday season filled with love and joy.

Merry Christmas and Happy New Year!

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J&P Electrical is a full-service electrical supply company. At J&P, we source contractors, end-users, and supply houses with new surplus, quality reconditioned, and obsolete electrical equipment. We also purchase a wide range of heavy industrial electrical equipment such as bus plugs, bus duct, transformers, circuit breakers, fuses, and switchboards. Call us at 877-844-5514 for assistance.  

Written by the digital marketing team at Creative Programs & Systems: www.cpsmi.com

Economic Factors Influencing Commercial Property Loans

In the dynamic world of commercial real estate financing, understanding the myriad economic factors influencing commercial property loans can be complicated, to say the least. Commercial lending is not just figures on a balance sheet; they are deeply affected by various macro- and microeconomic elements. Numerous factors play pivotal roles, from the overarching health of the economy to the specific conditions in the real estate market. In this article, we briefly review the key economic influences, such as interest rates, economic growth, inflation, and more, that shape the world of commercial property lending.

Economic Growth: The overall health of the economy impacts commercial property loans. In a growing economy, businesses expand, increasing the demand for commercial properties and, consequently, for loans. Conversely, in a downturn, loan demand may decrease.

Real Estate Market Conditions: The supply and demand dynamics in the real estate market influence commercial property values and the perceived risk of lending for such projects.

Fluctuating Interest Rates: Are among the mostsignificant factors affecting commercial property loans. Higher interest rates can lead to increased borrowing costs, influencing both the demand for loans and the feasibility of commercial real estate projects.

  • Impact on Real Estate: High-interest rates can significantly affect commercial real estate, especially for owners with near-term debt maturities or investors looking to develop or acquire properties​​.
  • Lending and Investment Strategies: Rising interest rates can lead to a reevaluation of deal economics, with lenders becoming cautious about the impact on debt service coverage ratios​.

Stabilizing Inflation: High inflation can lead to higher interest rates, which can increase the cost of borrowing. It can also affect the value of properties and rental incomes, impacting the feasibility of commercial real estate investments.

  • Construction and Operating Costs: Inflation directly impacts property construction and operating costs. Costs driven by supply chain disruptions and increased wages due to worker shortages are significant factors​​.
  • Utilities and Insurance: Costs for utilities and property insurance are also likely to remain high, partly due to climate change and geopolitical factors​​.

Consumer Confidence and Recession: The fear of a recession can impact consumer spending and investment decisions. Additionally, the level of consumer confidence significantly influences the retail and hospitality sectors, affecting both the demand for and value of these properties.

Global Economic Trends: In today’s interconnected world, global economic trends can have a significant impact on local economies and, by extension, on commercial property loans.

Government Policies: Regulatory policies, including zoning laws, tax policies, and real estate regulations, can impact commercial property investment and lending. For instance, favorable tax treatment for certain types of properties can stimulate demand for loans.

Employment Rates: Employment levels in an area can affect the demand for commercial real estate. Higher employment usually leads to increased demand for office and retail spaces, influencing the number of commercial property loans.

Lender Confidence and Credit Availability: Economic factors can affect lenders’ confidence and their willingness to finance commercial real estate projects. Financial stability tends to make lenders more willing to issue loans, while instability can make them more cautious. The broader availability of credit in the financial system can impact how easily borrowers can secure commercial property loans.

How the market responds is based on sector-specific impacts. Various commercial property sectors respond differently to these economic factors. For example, hospitality and retail might be cushioned against a downturn due to low unemployment rates and high job openings​​. Understanding these factors is crucial for investors, developers, and lenders in making informed decisions about commercial property investments and loans.

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EB Mortgage is a locally owned mortgage company with experts in new home purchase, refinancing, and commercial loans. Our wholesale rates can’t be beaten. We offer more products, more options, and more solutions. Our “3C” Process is simple: complete our pre-approval request, consider options based on your requirements, and choose the offer that suits your needs best. Call us or e-mail us today! 

Written by the digital marketing team at Creative Programs & Systems: www.cpsmi.com

How Gunite Pools Are Constructed?

This month, we continue with our blog discussion of what a gunite pool is and how its constructed.The construction of a gunite pool starts with excavation using heavy machinery to create a hole matching the desired depth, width, shape, and size of the pool. After the area is prepared, the next step involves setting up the pool’s plumbing and reinforcing the walls and floor with steel rebar, forming a robust framework for the application of gunite. Unlike other concrete forms like shotcrete, which may not bond effectively when applied in stages, leading to structural issues or aesthetic flaws, gunite concrete is unique. Its high-pressure application and late-stage water mixing allow skilled nozzle operators to apply gunite over several days without compromising the pool’s structural integrity or appearance.How Long Does Gunite Pools Need to Cure?  After the gunite process is complete, the concrete must undergo a curing period before the pool can be filled with water. This curing process typically lasts about one month, which allows the particles and molecules in the concrete mixture to fully bond, achieving maximum strength and durability. While it’s feasible to apply additional layers of gunite during this curing phase, doing so can prolong the overall curing duration. Therefore, most gunite pool builders aim to finish the gunite application swiftly to avoid extended curing times. Additionally, adverse weather conditions can disrupt the curing process.The Finishing Touches of a Gunite Pool The exterior of a fully cured gunite swimming pool is usually covered with materials like plaster, tile, or other finishing options to ensure a uniform surface texture and color. This step often occurs at least a month after the final gunite application. During this curing period, the pool builder typically installs coping around the pool’s edge and constructs the patio area. Additionally, while waiting for the gunite to cure, the builder might also work on installing various add-ons and accessories included in the pool project. These can include fencing, retaining walls, landscaping, and external water features that don’t need to be integrated within the pool itself.How Long Does It Take to Build a Gunite Pool? The entire process of constructing a gunite pool typically spans three to six months. However, recent shortages of supplies and labor may extend the construction schedule. Because gunite pools can be customized to any size, shape, and depth, with just about any feature imaginable, estimating a timeline  without knowing the details is challenging. Additionally, costs vary from state to state and are based on the size, complexity, and materials used.Maintaining Your Gunite PoolAll pools require maintenance. On average, gunite pools maintain their original finish for 10-15 years, depending on maintenance quality, whether indoors, and exposure to extreme temperature changes, among other factors. Generally, the most significant costs for maintaining a pool are related to chemicals and electricity for heating more than any other expenses. However, the initial expense for acid washing or replastering services can also be substantial.If you are considering a new inground pool or renovating or repairing your current pool, now is the time to research and find a qualified gunite expert, such as Pound Pool Plastering. Contact us today to schedule a consultation for your upcoming project!Pound Pool Plastering services residential and commercial pools in applying a wide variety of pool plaster finishes and complete renovations. We offer Diamond Brite, Sunstone, Hydrazzo, and Marcite – and a great selection of tile choices and coping stones. Owner Dale Pound personally oversees each pool project to ensure the highest quality is delivered. Call or email us for a free estimate.  Written by the digital marketing team at Creative Programs & Systems: www.cpsmi.com

The Benefits of Managed IT Services

Managed IT services allow businesses to delegate their IT responsibilities to an external provider through contractual or subscription-based arrangements. These services help reduce the burden on internal IT teams, supplement their efforts if they are overwhelmed, or even serve as a complete replacement. Managed service providers (MSPs) usually offer 24/7 IT support and bring specialized skills and expertise that might not be available in-house.

There are numerous benefits to Managed IT services; we list the most significant advantages below:24/7 Monitoring: With continuous monitoring of networks and systems, MSPs can detect and prevent issues before they escalate, ensuring uptime and reliability. Providers ensure that security measures are up to date, reducing the risk of cyber threats with regular audits, patch management, and updated security protocols to safeguard business data. Also, by outsourcing IT tasks, businesses can focus on their core skills and strategic objectives rather than getting bogged down by computer issues.Cost-Efficiency: Outsourcing IT operations can reduce the need to hire in-house staff, leading to lower labor costs and overhead, yet are just as reliable. As businesses grow, their IT needs change. Managed IT services can quickly scale to meet these growing demands without the challenges of hiring and training additional personnel. Additionally, a fixed monthly fee covers most services, allowing businesses to avoid unexpected expenses. With proactive system monitoring and maintenance, MSPs help you remain compliant while reducing downtime and outages and making your business efficient.Expertise and Experience: Managed IT service providers typically have a wide range of knowledge that may be hard to replicate with an in-house team. This ensures that businesses have access to specialists when needed. Also, MSPs often have established relationships with technology vendors, which can lead to faster resolution times and potential discounts. Managed IT services often include backup solutions and disaster recovery plans, ensuring business continuity in the face of unforeseen incidents. With expert advice and guidance, you can gain peace of mind knowing that your MSP has your data backups and security handled.By leveraging managed IT services, businesses can enjoy these benefits and more, often leading to enhanced productivity and reduced risks while saving significant costs. You don’t have to be tech-savvy or know all the ins/outs of the IT world; MRPs do it for you! CPS has almost 30 years of experience in the industry, so you know we’ve got your back! We get to know your business like our own so we can run your IT properly. Contact us for a free consultation and see how we can help you. ____________Founded in 1994, Creative Programs and Systems delivers professional results for all your computer needs. We design, create, and code various custom software programs and websites. Additionally, we offer superior digital marketing services, including enhanced Search Engine Optimization (SEO) and paid advertising. We also repair and support commercial computer infrastructure, build custom systems and servers, and provide secure data backups. Need assistance or want to learn more? Call (810)224-5252 or email info@cpsmi.com us!Written by the digital marketing team at Creative Programs & Systems: www.cpsmi.com

Banks vs. Private Lenders in Commercial Property Financing

When comparing commercial property financing options between banks and private lenders, it’s important to consider the pros and cons of each. It’s also imperative to take into effect how economic factors like interest rates, market trends, and economic cycles can influence the availability and terms of these loans. Read on to discover more.

Basics of Bank Lending

  • Lower Interest Rates: Banks are generally able to offer lower interest rates than private lenders​ because they serve larger populations​.
  • Regulation and Standards: Banks are subject to state and federal regulations, making them more stringent in their lending criteria. This means they often have higher lending standards, making it difficult for borrowers with less-than-ideal financial histories to qualify​​.
  • Credit and Financial History: Banks tend to focus on the borrower’s credit and documented income sources, making it challenging for self-employed borrowers to qualify​​.

Basics of Private Lending

  • Flexible and Fast Lending: Private lenders are known for their flexibility and quick processing. They are a go-to option in urgent financing situations​​.
  • Higher Interest Rates and Costs: Private lenders sometimes charge higher interest rates and have other costs like legal fees, which are eventually passed over to the borrower​​.
  • Customizable and Less Rigid: Private lenders offer more customizability in loan terms and are less rigid in their qualifying standards, such as credit scores and debt-to-income levels​​.
  • Creative and Investigative Lending Standards: Private lenders are often more creative in their loan processing standards and may overlook certain background flaws if the borrower can provide a reasonable explanation​​.

Choosing the Right Finance Lender

If you have a solid, strong financial history, good credit, and proof of income, and you’re not in a hurry to obtain financing, then a bank may be a better choice due to its lower rates. However, if you have a more challenging financial history and your need for funds is more urgent, a private lender might be a more suitable option. The right financing choice ultimately depends on your unique circumstances and financial goals.

Take Economic Factors into Consideration

The choice between banks and private lenders for commercial property financing depends on various factors, such as the borrower’s financial history, the type of property, and the urgency of financing needs. Additionally, economic factors like interest rates, inflation, and the risk of recession can significantly influence the terms and availability of commercial property loans, with each sector responding differently to these macroeconomic variables. Choosing the right financing requires carefully evaluating your financial circumstances and considering the broader economic conditions.

We make obtaining commercial loans easy. Contact EB Mortgage today to learn more!

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EB Mortgage is a locally owned mortgage company with experts in new home purchase, refinancing, and commercial loans. Our wholesale rates can’t be beaten. We offer more products, more options, and more solutions. Our “3C” Process is simple: complete our pre-approval request, consider options based on your requirements, and choose the offer that suits your needs best. Call us or e-mail us today! 

Written by the digital marketing team at Creative Programs & Systems: www.cpsmi.com