You are receiving this letter because you either wrote to us or you are a commercial real estate broker client of either Blackburne & Sons or C-Loans, Inc. Today we'll teach you about DIP financing. We also have lots of cute, clean jokes, some funny pics, and a video of some cats fighting some vicious cucumbers.

Joke Du Jour

Q: What did the snail say when riding on a turtle?
A: Weeeee! :-)

With Five Cats, Evenings Are Seldom Boring at Casa de Blackburne

Private Money Commercial Permanent Loans Nationwide From $100,000 to $3.5MM

Do you need a purchase money lender who will actually go to 75% loan-to-value? Blackburne & Sons has decided to compete against banks by being far more aggressive on loan-to-value ratio. We are very bullish on commercial real estate.

Do you need a lender who will allow the seller to carry back a second mortgage? Does your client have a balloon payment coming due on his commercial property? Has your bank offered him a discounted pay-off? Does your borrower have less-than-stellar credit? Is your client's company losing money? Is your borrower a foreign national?

Do you need a non-recourse loan? Do you need a commercial loan with no prepayment penalty? Is your client's commercial property partially vacant? Do all of your commercial leases run out in the next 18 months? Do you need a lender who will allow a negative cash flow? Do you need a lender who will also look at the borrower's global income - income from salaries, other investments, etc.? Do you need a loan against a portfolio of single family homes?

Here is our latest rate sheet.

Blackburne & Sons is looking for commercial real estate loans that are not quite clean enough for a bank. Please click here to submit a private money commercial loan or call me, Tom Blackburne, at (574) 210-6686.

American Dream Joke

"New research shows that China has a bigger middle class than America, and more people in China are living what we would call the 'American Dream.' That's when you know things are bad - when even the American DREAM is made in China." -- Jimmy Fallon

DIP Financing

DIP financing is short for debtor-in-possession financing. When a borrower files a Chapter 11 bankruptcy, the reorganization kind of bankruptcy, he retains title and possession of his assets. He is called a debtor-in-possession. The bankruptcy court stays (stops) any further collection action against him while he prepares a plan of reorganization that will repay his creditors in full.

While the debtor is in Chapter 11, it is possible to obtain, with the permission of the court, new financing that will be senior to all existing debt. The debtor must convince the court and a committee of his creditors that the cash infusion will allow him to repay his debts in full.

This type of bankruptcy financing is called DIP financing, and Blackburne & Sons makes DIP loans.

I just wrote a wonderful blog article that explains DIP financing using a real-life example. All of my 400 blog articles are free training lessons in commercial real estate finance. If you want to become a more successful broker, be sure to subscribe to my free blog.

Exercise Joke

Two overweight, middle-aged women are on their daily walk. They were discussing how hard it is to lose weight as one gets older. One woman complained that she remained apple-shaped. The other woman said that no matter how much she exercised, there was too much fat on her backside and thighs, and it seemed like it was there to stay. Her friend agreed, saying, "It's true. The lard works in mysterious ways."

Only Blackburne & Sons Can Do This:

Blackburne & Sons has some truly unique and super cool programs:

1. We'll give you a bridge loan on your commercial property for only one point! There is no prepayment penalty.
   
   
2. We allow sellers to carry back a second mortgage behind our first mortgage.
   
   
3. We will actually lend up to a 75% loan-to-value ratio. Banks claim they will lend up to 75% LTV, but in real life they will only go 68% LTV.
   
   
4. We offer private money (loosey-goosey underwriting) commercial loans with a 15-year term. Our competitors offer 2- to 3-year bridge loans. We offer 15-year permanent loans with no prepayment penalty. Never again will you have a balloon payment come due during a recession.
   
   
5. We have a terrific apartment permanent program that can compete with agency loans.
   
   
6. We buy commercial first mortgages (usually at a discount).
   
   
7. Instead of discounting your wonderful commercial first mortgage, consider pledging it as collateral for a smaller loan. This is called a hypothecation. We make loans secured by mortgage notes owned by the borrower.

Snow White Joke

This mother tells the story: When my daughter was three, we watched Snow White and The Seven Dwarfs for the first time. The wicked queen appeared, disguised as an old lady selling apples, and my daughter was spellbound. Then Snow White took a bite of the poisoned apple and fell to the ground unconscious. As the apple rolled away, my daughter spoke up, "See, Mom, she doesn't like the skin either."

Free Copy of the Blackburne List

The Blackburne List is a list of over 2,500 commercial lenders located nationwide. We just spent almost $30,000 and three months updating this list.

The Blackburne List is available for purchase for just $79.95. Is money tight? You can also buy one of our three Regional Lists (750+ lenders) for just $39.95. But why spend money at all?

We will trade you one of our three Regional Lists for the contact information of just one banker making commercial real estate loans. If you refer us three bankers, you will own the list for all three regions. Together you will own the entire Blackburne List.

There is another way that you can access The Blackburne List. Our newest portal, CommercialMortgage.com, is an online way to search the entire Blackburne List for the 30 lenders most suitable to make your loan. Use of CommercialMortgage.com is also 100% free!

As My Cat Headed Out One Evening...

Umbrella Joke

A 90-year-old man said to his doctor, "I've never felt better. I have an 18-year-old bride who is pregnant with my child. What do you think about that?"

The doctor considered his question for a minute and then said, "I have an elderly friend who is a hunter and never misses a season. One day when he was going out in a bit of a hurry, he accidentally picked up his umbrella instead of his gun. When he got to the creek, he saw a beaver sitting beside the stream. He raised his umbrella and went, 'bang, bang', and the beaver fell dead. What do you think of that?"

The 90-year-old said, "I'd say somebody else shot that beaver." The doctor replied, "My point exactly."

Sweet Apartment Program for "A" Deals

Blackburne & Sons has an incredible apartment loan program for "A" quality deals. The rate is adjusted according to the desirability of the property and the area, but it starts at 3.87% and 1 point for a fixed rate, 30-year fully-amortized loan. For more details, please call Tom Blackburne at (574) 210-6686.

Three Beers Joke

An Irishman walks into a pub and orders three beers. The bartender brings him the three beers, and the man proceeds to alternately sip one, then the other, then the third, until they're gone. When he orders three more, the bartender says, "Sir, don't you like your beer cold? Why don't you start with one, and I'll bring you a fresh one as soon as you're low."

The man says, "You don't understand. I have two brothers, one in Austria and one in America. We made a vow to each other when they moved away that every Saturday night, we'd still drink together. So right now, my brothers have three beers too, and we're drinking together."The bartender thinks it's a wonderful tradition, and every week he sets up the guy's three beers.

Then one week, the man comes in and orders only two. He drinks them and then orders two more. The bartender says sadly, "Knowing your tradition, I'd just like to say that I hope nothing has happened to one of your brothers." The man replies, "Oh, my brothers are fine -- I just quit drinking."

Do You Need a Commercial Loan Right Now?

If you need a non-prime, subprime, or slightly-flawed commercial loan, simply complete this super-easy mini-app to Blackburne & Sons.

If you need a bank-quality commercial mortgage loan right now from a life company, commercial bank, or conduit, you should enter your deal into C-Loans.com.

If you still can't find a commercial lender using C-Loans, then try CommercialMortgage.com.

Please keep in mind that the 3,159 commercial lenders on CommercialMortgage.com are different than the 750 commercial lenders on C-Loans.

Please come visit CommercialMortgage.com right now and take it for a free test drive. You do NOT need a real life commercial loan request. Just enter a dummy loan to see how it works. You will be impressed.

Crossword Puzzle Joke

While doing a crossword puzzle, I asked for my husband's help. "The word is eight letters long and starts with 'm', and the clue is 'tiresome sameness.'" "Monogamy," he answered.

One-Point Commercial Bridge Loans

Suppose you have listed a commercial property for sale, and the seller is getting antsy. You can often hold him off long enough to find a buyer by getting him a bridge loan. Blackburne & Sons offers a six-month bridge loan for just one point and no prepayment penalty. Please click here to submit a commercial bridge loan mini-app or call me, Tom Blackburne, at (574) 210-6686.

Sadly, Body Issues Start Early

Pirates Joke

Q: What is a pirate's favorite letter?
A: The sea!

Two Ways To Earn Referral Fees For Commercial Loans - We Once Paid $21,250.

This one is an absolute no-brainer. You simply put a link to C-Loans.com on your real estate website. We once paid a $21,250 referral fee to a guy who was asleep when the lead came in! Here are the details.

You can also referral commercial loans by hand. Here is our referral fee program.

Funny, Funny Video

These cats think the cucumber is a snake.

On a Personal Note

This past weekend I went on an adventurous trip with my girlfriend, Alex.  Our trip started off with a two hour drive directly south to a historic town called French Lick, Indiana.  There, we went on an informative train ride that took us deep through the forest.  The train was so old that it even broke down for an hour before they were able to fix it!  We then drove another two hours south to Evansville, IN - a town on the Ohio river.  There we did a ghost tour (we didn't see "The Gray Lady") and stayed in a 200-year-old bed and breakfast.  The morning after, we went on a boated cave tour, one hundred feet underground.  The cave was incredibly eerie, dark, and cold.  The water was crystal clear with a blueish tint, while the cave walls were littered with frogs and the occasional albino crayfish.  We opted out of the last leg of the tour where you are to lie down in the boat and shimmy your way for about 20 feet before entering into the next stretch of cave routes.  Apparently we are claustrophobic!

Don't Forget About C-Loans.com

We have a whole new crop of hungry commercial lenders on C-Loans, so if you have a commercial loan you're trying to place, it takes just four minutes to submit your deal to 750 commercial lenders. And remember, C-Loans.com is free!

Final Funny (R)

An elderly couple was at home watching TV. Phil had the remote and was switching back and forth between a fishing channel and an adult entertainment channel. Mary became more and more annoyed and finally said, "For God's sake, Phil, leave it on the adult channel. You already know how to fish!"

Contact Information

4811 Chippendale Drive, Suite 101, Sacramento, CA 95841 Telephone: (574) 210-6686 * Fax: (916) 338-2328
Real Estate Broker -- California Bureau of Real Estate -- License Number 829677