CIBC World Markets and Heller Financial Join LoopLender's Extensive Portfolio of Online Lenders.Business Editors/High-Tech Writers SAN FRANCISCO--(BUSINESS WIRE)--Jan. 19, 2000 LoopNet's Loan Origination The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. Service Offers Online Direct Access Financing Through Partnerships with Leading Commercial Real Estate Lenders LoopNet, Inc.(R) (www.LoopNet.com), the Internet's leading commercial real estate marketplace(TM), today announced that CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. (NYSE NYSE See: New York Stock Exchange :BCM BCM Baylor College of Medicine BCM Become BCM Business Communications Manager (Nortel) BCM Broadcom Corporation BCM Business Continuity Management BCM Business Contact Manager (Microsoft) ) and Heller Financial (NYSE:HF), have joined other industry leaders on LoopLender(TM), LoopNet's Internet-based loan origination system. Additional lenders announced today include Provident Bank (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PFGI PFGI Provident Financial Group, Incorporated (Cincinnati, OH) ) and Presidential Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. . These new lenders, in addition to recently announced partnerships with Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank and GMAC GMAC General Motors Acceptance Corporation GMAC Graduate Management Admission Council GMAC Give Me A Call GMAC Genetic Manipulation Advisory Committee GMAC Genetic Modification Advisory Committee (Singapore) GMAC Give Me A Chance Commercial Mortgage, enable brokers, owners and investors to obtain commercial real estate financing via the Internet directly from more than 30 of the industry's most highly-regarded lending institutions. "LoopLender provides an opportune platform for delivering online financing services directly to borrowers," said Michael Higgins, managing director of CIBC World Markets. "We at CIBC World Markets strongly believe that the Internet will streamline the mortgage application process while also delivering broader exposure of our loan offerings, and we are excited to take advantage of this new and innovative technology through our affiliation with LoopLender." "Our participation in LoopLender is part of an ongoing strategy to leverage the Internet to provide quick, comprehensive mortgage services," said John Petrovski, group president of Heller Financial's real estate division. "LoopLender has proven its leadership in the online financing industry and we look forward to developing new business opportunities through this alliance." Both CIBC World Markets and Heller Financial are known internationally for their commercial lending expertise and industry leadership. CIBC World Markets works with qualified buyers to finance a variety of property types and, in the past three years, has closed more than $10 billion of commercial real estate loans. Heller Financial, with approximately $18 billion in total assets, is a veteran lender that has been financing commercial real estate for over 15 years. Heller offers borrowers an extensive range of financing options, all of which can be accessed online through LoopLender. "LoopLender's strong growth in the financing community shows the industry's increasing reliance on the Internet for streamlining commercial real estate transactions," said Dennis DeAndre, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and founder of LoopNet. "We are committed to delivering comprehensive, high-quality financial services to our clients and are pleased to add such well-regarded institutions as CIBC CIBC Canadian Imperial Bank of Commerce CIBC Centres Interinstitutionnels de Bilan de Compétences CIBC Commonwealth Institute of Biological Control (Trinidad) CIBC Commercial International Brokerage Company and Heller to the LoopLender portfolio." LoopLender provides no cost full-service loan origination over the Internet. The system combines sophisticated Internet-based technology with personalized loan consultation and customer service to save brokers, owners and investors time and money in the loan process. Users may search and compare loan programs from more than 30 of the industry's leading financial institutions, receive instant preliminary quotes and submit a single loan request to the lenders of their choice. LoopLender's expert loan consultants carefully review and analyze each loan request, working closely with brokers and borrowers to help guide the deal from origination to closing. About LoopNet LoopNet, Inc. is the Internet's leading commercial real estate marketplace, representing more than 88,000 commercial real estate professionals and 90% of the top commercial real estate organizations. LoopNet provides the online commercial real estate listing service for more than 116 organizations, including Coldwell Banker Commercial, Colliers International, the CORE Network, Cushman & Wakefield, Grubb & Ellis, Homestore.com, Inc. (through its subsidiary, RealSelect, Inc.), Insignia/ESG, Marcus & Millichap, RE/MAX RE/MAX Real Estate Maximums (Canada) , Royal LePage and Trammell Crow Company. LoopLender, LoopNet's online financing service, is used by the industry's top lenders including GE Capital Real Estate, Morgan Stanley Dean Witter, GMAC Commercial Mortgage, Wells Fargo Bank, Column Financial and Key Bank, among others. LoopNet, Inc. is venture-backed with investments from Hambrecht & Quist's Access Technology Partners, Morgan Stanley Dean Witter Venture Partners, Trinity Ventures, Indosuez Ventures, several leading commercial real estate companies and prominent Silicon Valley law firm Wilson Sonsini Goodrich & Rosati. For more information about LoopNet please visit www.loopnet.com. |
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