With more than 20 years of experience, Kilpatrick and Hart, Ltd., Inc. (K&H) helps clients navigate the complex commercial loan funding process. The firm’s consulting services are backed by an extensive network of international and U.S.-based investors, lending parties, and investment banking firms.
K&H’s exhaustive “8 step process” ensures that proper protocol is followed to secure funds for business plans. Applicants initially submit a business plan, project summary, or the website-accessible loan pre-qualifier worksheet. If these initial documents generate sufficient interest from funding partners at the conceptual level, additional information is requested. K&H utilizes this information to generate a finance request summary fact sheet that enables applicants to carefully review the information provided and make necessary revisions.
Dedicated to transparency, Kilpatrick and Hart proactively works with applicants in the early stages of the loan process to help them understand the out-of-pocket pre-closing expenses that are necessary to successfully complete the financing process.
Dedicated to volunteer work, Kilpatrick and Hart, Ltd., Inc., is a specialized financing firm based in Trenton, New Jersey. The President of Kilpatrick and Hart has volunteered his services to hospitals, churches, and residential communities for over a decade. Here, the firm explains the dollar value of an hour of volunteer work.
Each year the Independent Sector releases an estimated hourly value in dollars for volunteer work. This number is based upon the average income for non-supervisory and production work, and is increased by 12 percent to account for benefits. Assuming all volunteers perform equal tasks, the current dollar value for an hour of time is $21.79.
However, not all volunteer tasks are equivalent. For instance, if a trained professional volunteers time in his or her specific field, such as bookkeeping, this equates to more economic value than someone who volunteers time cleaning or gardening. This becomes clearer when considering replacing volunteers with paid staff, where wages are significantly higher for specialized skills.
Ultimately, although the actual economic worth of donated time can vary from task to task, all volunteers are appreciated and considered valuable to communities and organizations.
The plethora of funding options and Byzantine financing regulations make it more difficult than ever for a small business owner to navigate the lending process. By serving as an intermediary to lenders, financial consultants help small businesses clear many of the hurdles to project funding.
Additionally, a financial consultant has access to a wide variety of safe, prospective lenders. A financial consultant can send a small business’ proposal to an assortment of the best qualified lenders based on the business’ specific proposal and circumstances. This saves the small business time and legwork in researching lenders and applying to each one on its own. Particularly with specialty projects, for which lending options may be scarce, a financial consultant’s resources can be invaluable.
A good financial consultant will also go beyond merely acquiring a list of prospective lenders for its network. It can eliminate lending programs that may appear enticing on the surface but are too risky or otherwise inappropriate. Thus, a financial consultant can be a valuable asset for a small business seeking financing.
Kilpatrick and Hart Ltd., Inc., is registered with the Better Business Bureau and advises clients on a wide range of specialty financing projects, ranging from real estate financing to entertainment and multimedia business projects.
Today, ravioli is a food enjoyed well beyond the borders of its Italian homeland. The popularity of this stuffed pasta creation can be attributed in large part to its limitless diversity. In Italy alone, traditional preparations include…
– Vegetarian ravioli. For Friday meals, especially during Lent, many Catholic Italians do not eat meat, and so frequently prepare ravioli with vegetables, eggs, and cheese instead.
– Seafood-stuffed ravioli. In Italy’s coastal cities, pasta stuffed with seafood is common. The accompanying sauces are typically light and lemon-based.
– Sauce-baked ravioli. While many Italians boil ravioli in broth and then serve it, others follow the boiling step by baking the pasta in a rich sauce.
What contemporary Americans might think of as “standard” ravioli—that is, pasta stuffed with meat and served with tomato sauce—is also common in Italy, although it did not become so until tomato plants were introduced to the country in the 1700s.
About Kilpatrick and Hart
Located in Hamilton, New Jersey, Kilpatrick and Hart, Ltd, Inc. enjoys proximity to many renowned Italian restaurants. In addition, Kilpatrick and Hart maintains relationships with brokers and loan originators on the international stage.
People who are interested in acquiring a new business or expanding their existing operations often find that obtaining prequalification for financing expedites the process. Because there are no delays associated with weighing various funding options, they remain in control of such functions as negotiation and timetables. Moreover, the other parties participating in the transaction sometimes agree to a resolution of the deal faster if they know the buyer is not scrambling to put together a capitalization program.
Buyers in business deals generally pursue debt financing or equity financing. Debt financing involves borrowing funds from a bank or other outside source. Debt service in such instances encompasses the repayment of principal, as well as interest. Equity funding, on the other hand, entails the sale of shares of stock in the business. Outside investors, including venture capitalists, often provide the capital in such financing.
About Kilpatrick and Hart: Kilpatrick and Hart, Ltd., Inc., works closely with clients to identify capital needs and obtain funding to realize their objectives. The company’s competencies include the development of business plans, funding schedules, and outreach to potential lenders and investors. It specializes in financing for enterprises in such industries as hospitality, real estate, farming, and assisted living.
The current financial climate has made many lenders and developers alike wary of the lending process. Lenders are reluctant to commit funds to projects, and developers are concerned that they may lose deposits and application fees if their proposals are rejected. We discussed the issue with Tom Hart, co-founder of the respected commercial loan consulting firm Kilpatrick and Hart, Ltd., Inc.
Q: What exactly is meant by transparency in your business?
Tom Hart: Transparency refers to the process being out in the open for all to see. At Kilpatrick and Hart, we have an established funding process, called the 8-step process. It is set forth on our website at www.kilpatrickandhart.com, laid out in detail, with every step explained thoroughly.
Q: How would you say your 8-step process makes borrowers less reluctant to apply for a loan?
TH: The first three steps of the process are informal, but everyone goes through them. They are designed to make sure that there is sufficient interest in the borrower’s project. First, we review the borrower’s description of the project, and if we think it is feasible, we will share it with our network of lenders. If there is interest in funding the project, then we will go ahead with the application process, but if there is no interest, we will so advise the borrower. All this is before any deposits or success fees are paid; if there is no interest at this point, the borrower has not lost anything.
Q: How does the 8-step process encourage lenders to participate?
TH: The answer to that is the nearly 25 years of honest dealing we have built up with our network of lenders. They know that we are not going to present them with a project we think is not feasible. In addition, they know that we tell borrowers that there is no guarantee of funding even after lenders have expressed a conceptual interest.