Gary Chromiak, G-Ray Commercial

08/24/2023

Gary Chromiak is a highly regarded broker specializing in the field of Commercial Lending. Fortified with first-hand experience in real estate, insurance, and financial planning, Gary facilitates the process of financing large and small businesses.

Having graduated from Widener University in 1981, Gary entered the business world as a claims adjuster for Allstate Insurance. Although excelling in the field, Gary wanted the experience of advocating for the customer. He opted to work as an independent, licensed agent in both insurance and securities.

For twenty years Gary educated clients with a practical understanding of “the 27 drawers of money management”. This involved a dedicated understanding of products enabling succession planning as well as security for home and health. In large part, local relationships, home visits, and scheduled renewals/adjustments were key to this vocation.

Although no longer licensed in securities, his extensive background in management, sales, and service, fosters a creative approach to commercial brokering. Learning the products, educating the borrowers, and organizing loan applications enables him to, once again, advocate for the customer. No longer required to stay within a local geography for sales, business owners throughout the country are eligible for his professional assistance.

Included in his tenure as a commercial broker, are 11 years with Lehigh Financial and 3 years with Atlantic Coast Commercial Capital. Gary Chromiak is currently doing business as (DBA) G-Ray Commercial. Based in Pennsylvania, G-Ray Commercial sources lenders throughout the nation to accommodate the financial needs of small and large businesses.

G-Ray Commercial > https://www.garychromiak.co/

08/24/2023

Bank-Speak 103: Defining Terms & Decoding Acronyms
Nothing has the power to say, “I’m your mark,” as does sitting dumbfounded in a conversation you don’t understand. Language is a powerful tool and one that can be employed as a formidable weapon... https://www.garychromiak.co/blog/bank-speak-103-defining-terms-amp-decoding-acronyms-1

07/06/2023

Borrowing 201: The Good, The Bad, and The SBA

Once you’ve established the nature and needs of your business, you’ll buy before you sell. The loan you’re seeking is a commodity, and it’s important to understand exactly how much it will cost...

More at Gary Chromiak, G-Ray Commercial> https://www.garychromiak.co/blog/borrowing-201-the-good-the-bad-and-the-sba

Once you’ve established the nature and needs of your business, you’ll buy before you sell. The loan you’re seeking is a commodity, and it’s important to understand exactly how much it will cost.

07/06/2023

Business 102: Clarifying Goals and Succession Planning. Congratulations; you’ve launched your company and after nurturing your vision, setting your goals, and marketing your product, your business is in the black... https://garychromiak.co/blog/business-102-clarifying-goals-and-succession-planning…

07/06/2023

This season G-Ray Commercial has celebrated an inspired resurgence of successful loan closings. As you’re probably aware, the pandemic’s lull evolved into an extended spell of low rates and competitive terms. Most recently, the market’s shift effected banking with daily changes to those numbers. Recent weeks sent customers into a flurry of financing activity. As the climate shifted from the high 3’s to over 6%, business owners strove to acquire their best possible loans. Stay tuned for updates.

By the way, if you’re new to the lending process, learn the basics with Borrowing 101: Who Needs a Broker? https://www.garychromiak.co/blog/borrowing-101-who-needs-a-broker

The G-Ray Commercial Blog. Borrowing 101: Who Needs a Broker? A look at the process of getting a commercial loan and Insightful tips about what to look for in a broker.

07/06/2023

So, you’ve got your ducks lined up in a row… good business plan, great product, capable representation, and yet - no loan!

If this has happened to you, the issue may be presentation. A commercial loan is an entirely different ballgame than the loan you took to buy your car. You not only need to be financially viable as an industry, but you also need to look good on paper. Assuming your numbers support the size of loan you need, a lender needs to see you qualify according to the bank’s parameters. An appraisal is required. In order to qualify for the needed appraisal, you’ll need to provide the commercial property’s income as well as expenses. Among many other items, have your personal financial statement ready to go. If you have a mixed-use property, expect to provide a rent roll along with essentials like utility costs, tax history, and maintenance expenses.

You may very well have all these items and more available in a file. It’s also possible that they’d need to be gathered, organized, and systematically presented to be conspicuously supportive of the amount you’re hoping to borrow. Your best prospect for a successful closing is an impressively succinct application. That’s where your relationship with your broker starts. Loan Process with Gary Chromiak at G-Ray Commercial > https://www.garychromiak.co/client-resources

07/06/2023

The weather turned frightful for large loans that missed the extended window of 3 - 4.6%. Although it’s always best to see the lowest possible interest when borrowing, sometimes time is the boss. It isn’t always prudent to refinance early - especially if you’re holding a loan with a prepay penalty. Making the best of a rate challenge involves looking at the long-range forecast and planning the types of deductions that create the most growth over the course of the length of your loan. Whether you’re getting a new loan or you're refinancing an existing loan, avoiding a prepay penalty may be your best move.

If you’re looking for your first commercial financing, learn from the ground up: Borrowing 101: Who Needs a Broker?
https://www.garychromiak.co/blog/borrowing-101-who-needs-a-broker

07/06/2023

G-Ray Commercial has launched its new website with information about the loan process as well as educational material and resources.

G-Ray Commercial > https://www.garychromiak.co/