CONTRIBUTED ARTICLE
How Technology Makes Commercial Lending Better for Everyone By David Novoseller, Co-founder & President, Novello Financial Group
W
hile the pace of tech-
real estate world, with three decades
Here's Why: CRE investors look
nological development
of experience as an equity investor
to take a bridge loan in several
has
and Managing Principal in commercial
scenarios. To start, they may have
real
career
an opportunity or need to refinance,
assets
purchase, or renovate a property.
through development, construction,
The property type can be anything
renovation and lease up. Time and
from multifamily buildings, self-
time again, I saw that financial
storage facilities, office space, light
products built for small-balance CRE
industrial,
investors are scarce and inflexible.
housing, and more. What do they
Such CRE borrowers are a seriously
all have in common? The need to
under-served segment, often forced
access a reliable source of immediate
As the Co-Founder and President of
to accept sub-optimal terms to secure
financing that is malleable and will
Novello, I come from the traditional
time-sensitive financing.
allow them to close their deal. This
only
accelerated
in the last few decades, there’s at least one profession that hasn’t changed much - and it’s one of the oldest professions in the world. Over millennia, the fundamentals of
commercial
money
lending
have remained static - not for lack of demand, but perhaps, for lack of technology.
20
estate.
repositioning
I
spent
my
transitional
retail,
manufactured
