There has been a decided disconnect between borrowers and lenders in the wake of the sub-prime meltdown, a trend that a Southfield- based financial services firm aims to reverse on a case-by-case basis at the local level.
Detroit native Bob Rubin created The Business Loan Connection company in January to address the credit needs of qualified borrowers in the metro area seeking to maintain and expand their business interests.
“The fallout from the mortgage crisis has spread throughout the credit markets, making it increasingly difficult and in some cases nearly impossible for borrowers to access bank loans and traditional lines of business credit,” Rubin explained. “Our company works to reestablish that connection between borrowers and lenders through the relationships we have developed with banks and private investors over the years.”
Rubin boasts more than 35 years of experience in the real estate finance industry, getting his start fresh after college in a company that owned and managed rental properties. His boss, and his mentor, was his father, Saul, owner of the real estate company.
“I had an epiphany after college when I really wasn’t sure what I was going to do,” Rubin said. “I learned the basics of the real estate business with the help and guidance of my father, and for that I will always be grateful.”
A product of Detroit Mumford High School, Rubin earned his bachelor’s degree in economics from Eastern Michigan University and spent six years in the U.S. Navy Reserves while he was gaining his footing in the real estate field.
In his current business venture, Rubin utilizes an “extensive network of large and boutique banks in addition to a collection of private investor groups,” providing mid-market companies and individuals access to a wide array of traditional and non-traditional lending sources. According to Rubin, “these financing sources can offer a variety of loan options including commercial property purchase, refinance and mezzanine loans, as well custom lending programs and facilities” designed around a client’s specific profile.
“Even though we are faced with a highly challenging credit market, banks, lending institutions and even high-net-worth individuals are still looking to connect with good borrowers,” Rubin said. “The Business Loan Connection bridges the gap between these parties, creating mutually beneficial opportunities based on the unique needs of the borrower and the lending requirements of the credit facility.”
In a prepared statement, Rubin said that borrowers seeking access to lines of credit or business loans can complete a brief questionnaire available on The Business Loan Connection Web site, receiving same day analysis on the request’s feasibility. Additionally, qualified banks, credit facilities, and private investor groups can join the firm’s lending network at no cost by submitting an online survey, according to Rubin. Both the questionnaire and survey can be accessed at www.thebusinessloanconnection.com.
Rubin said that his company is “results-oriented” and its fee schedule is based on successfully “connecting borrower and lender.” “In this kind of economy, businesses are seeking results more than ever, which is why I elected to go with this approach,” Rubin said. “It is the most direct and fair way.”
The Business Loan Connection is located at 24370 Northwestern Highway, Suite 101, in Southfield. The firm’s telephone number is (866) 262-1692, while Rubin’s e-mail address is bobr@thebusinessloanconnection.com.
Rubin and his wife, Judy, the executive director of a nonprofit, are the parents of three grown children, Joshua, Gabriel, and Ari. Their sons range in age from 25 to 31, holding jobs in the entertainment and Internet industries. Rubin and his wife are hoping the two offspring living in California will return to Michigan to pursue their various careers as job opportunities develop in the moviemaking business here.
“Because of my business, I recently met with a gentleman who is involved in Oakland County’s effort to attract film production projects to this area,” Rubin said. “He is very excited about the job potential for this kind of industry and the state already is seeing many positive signs with the number of movies made in Michigan over the past year. As parents, my wife and I are especially excited about the opportunities that might open up for our sons.”
