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Erica Jordan

Erica Jordan

Palm National Partners
Loan Officer
Cook County, IL

About Me

Before I sell you on the amazing company I work for let me tell you a bit about myself. My name is Erica Jordan, but you can call me EJ. I have over 17 years of mortgage banking experience in the sales, processing and underwriting sectors. When the mortgage industry fell I looked hard for an industry that would satisfy the needs and wants of myself and my family. Believe me, I searched! I went so far as to opening an online bake shop. I am what you may call a jack of all trades but I am a master of getting the job done. Period. Once I see a person with a need to fulfill I go all in and attempt to take them to the finish line, even if they didn't see the finish line for themselves. I believe strongly in the law of attraction and I believe that anything the mind can conceive can honestly be achieved with direct action in place. With that said, I am elated to be in an industry where I am lending again! I am able to assist business owners with financing that honestly helps them to expand their businesses. I have helped construction companies attain contracts with large suppliers that may not have even looked at them six months ago due to the inability to even appear as if they could perform. I have helped day care centers purchase Smart Boards and hire qualified teachers with Master's Degrees which lead to an increase in their schools' enrollments. I tell all business owners up front that we provide short-term working capital for 9 to 12 months that is expensive and will only serve them if they have a clear plan to increase their wealth by doing honest expansion techniques with the capital we provide them with. We structure all deals as a sale-lease back and our money is completely tax deductible. You can have your clients' accountant comb through every facet of the closing documents in order to prove this for themselves. We lend between $10,000 and $1,000,000 every day and we are a direct lender. We don't wait on approval from outside sources. We make our decisions, based on the risks and rewards to Palm national as well as to the client. We want the client to be able to afford the daily payment and we want to assure them that they can refinance in two months as long as there are no insufficient funds to Palm within that two month period. What do we need in order to get started? It's simple. We require six months business bank statements, a voided business check and photo identification for all borrowers on the deal. What strengthens a deal with Palm? Collateral, collateral, collateral! If a business owner has free and clear trucks being used for the business or free and clear vehicles they own personal, we like that! If a business owner owns real estate that may or may not be free and clear but has even a little bit of equity, we like that! If a business owner has equipment that is used in the business that is worth something on paper, we like that too! What else does Palm Nation look at to strengthen a file? Guarantors. If the business owner is married and their spouse is willing to sign at the closing we like that. All we require from the guarantor is a copy of their photo identification and a separately signed application. If the guarantor has nothing to do with the business that's wonderful! If they work, we just need the previous years' W-2 form and a quick email stating how long the guarantor has been on their job as well as the position they hold in the company. That's it! Now let's get in to some of the heavy stuff. Tax liens!!! Now, I'm not going to say that every file with a tax liens gets approved, but I will tell you this. It's not a reason to put the file to the side. We will review the file to see if there is a tax lien repayment plan in place. If there is one, we will require a copy of the repayment plan as well as the last three months cancelled checks proving that the payments are being made on time. The same thing goes for child support payments. I hope that I've explained as much about what I an able to do for you as well as what the company is capable of and I know that we can meet your expectations for your clients. I look forward to hearing from you soon.

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