Recent SBA Loan Funding
$500,000 Restaurant Refinance and Working Capital Loan – 6.25% Rate
Transaction Overview – Family Restaurant
This borrower had worked hard to build his small family restaurant into a profitable business, but he was shut down at every turn when it came to accessing affordable capital. Most conventional and SBA lenders don’t lend to the restaurant industry because they consider it high risk.
We were pleased to provide this business owner a fully amortizing 25 year mortgage at 6.25% and pay off $160,000 of short-term private business loans at interest rates of 17% plus.H We also delivered $50,000 of fresh working capital and another $53,000 for renovations.
SBA Unrestricted Program
SECC offers an aggressive SBA loan program priced at a maximum annual interest rate of 6.25%, amortized over 10 years (25 years, if the business has available real estate collateral). The program features one affordable monthly payment and often no prepayment penalty. SECC can consolidate a business owner’s expensive debt or merchant cash advances, remedy stifling business issues, provide expansion funds and offer unrestricted working capital to assist with new growth and other business needs. SECC imposes few business-type restrictions, will consider borrower credit down to 580 (or lower), can work with past borrower bankruptcies or foreclosures, and will fund from $250,000 to $5,000,000 in all 50 states.
Closing Highlights:
Family Restaurant
Kentucky
High Interest Rate Loans consolidated
Working capital provided
6.25% rate, 25 yr. term
Monthly payment
$2,500 broker rebate
Nationwide:
Financing from $250K to $5MM
Low credit score minimum
All industries considered
No collateral required
Broker rebate available
Joel Soforenko
South End Capital Corp.
Sr VP | Director, Business Lending
Main Line 888-268-7778 x 2
Cell Line 413-348-5604
joel@southendcapital.com
No comments:
Post a Comment