Below is a summary of recent transactions approved and/or closed over the past several years. Additional information and references can be provided upon request.
9/2014 – $6.3 million Ski Resort: The Client was looking to refinance their existing ski resort out of an SBA 7A loan with a higher variable interest rate, and was also interested in getting additional capital to make improvements to the property. The biggest challenge for the Client was the special-use nature of the property and seasonality of their business. We were able to package a deal and appropriately show the historical financial trends to get a group of community banks to buy into the transaction and fund an attractive fixed interest rate loan for seven years on the property, and provide more than sufficient cash out to cover the Clients needs for making improvements to the property.
9/2014 – $4.5 million Apartments: The Client had two apartment building loans that were maturing and the Bank was not interested in renewing the loans due to some previous credit issues the Borrower had. We were able to get an attractive fixed interest rate loan approval in place despite the Clients credit issues with a nationwide apartment lender.
9/2014 – $720,000 Restaurant: Client was looking to refinance two restaurant properties that they owned. We were able to procure an attractive fixed market rate loan for the properties.
8/2014 – $1.125 million Industrial Building: Client was purchasing an industrial building currently in foreclosure. The building had some issues previously with income that made it a struggle for the Client to find financing. We were able to find a community bank willing to fund the transaction at an attractive fixed market interest rate.
8/2014 – $2.4 million Daycare Center Acquisition: Client was purchasing a daycare center as an investment property. The property was newly constructed with the tenant having just taken occupancy. We were able to get an attractive fixed interest rate loan approval from a regional bank to fund this purchase right after the tenant took occupancy.
6/2014 – $3.4 million Business Refinance & Acquisition: Our Client was looking to expand their existing business and purchase three additional locations for their business. However, they also had existing debt they wanted to refinance. We were able to structure and SBA 7A loan to refinance all of their existing equipment debt as well as fund the purchase of the new businesses with only 10% equity into that purchase (a portion of which came back to the Client in working capital). The biggest benefit to the Client of the new loan structure was that the amortization on all of their debt got pushed out to 12 years, substantially improving cash flow for the Client.
6/2014 – $600,000 Retail Building: Client owned a partially owner-occupied retail building they needed to refinance because their existing first mortgage was maturing and their existing lender was refusing to renew the loan. The reason the existing lender was refusing to renew the loan was due to the fact the Client’s business had gone through several rough years, and the Client had some credit issues and tax liens due to those years. We were able to restructure the debt to get all of the Client’s issues resolved, and get an approval via an SBA 7A lender to refinance the property and all other debts still outstanding that were causing issues for our Client.
6/2014 – $1.2 million Retail / Industrial Building: Client had a partially owner-occupied industrial building they were looking to refinance because the rate on their existing mortgage loan was substantially above market. However, they had a large prepayment penalty that was preventing most lenders from being able to refinance the property. We were able to structure a refinance with a repayment of the loan in a way that would avoid the prepayment penalty, and were able to find a community bank lender willing to fund the loan under our structure, which would substantially reduce the interest rate for the Client. In addition to the refinance, we were also able to secure the Client an approval for a $100,000 line of credit for their business.
6/2014 – $250,000 Mixed-Use Building: Client was looking to purchase a new retail building to move their business to. They were looking for money both to fund the acquisition and build-out. The property being purchased ended up being in a flood plain. We were able to work with a community bank lender to restructure the deal and get them a loan on another asset them own to fund this purchase at an attractive fixed market interest rate.
5/2014 – $9.8 million Retail Buildings: Client owns two big box retail buildings. The loans were maturing and the existing lender was renewing them at a substantially above market interest rate. Due to the terms remaining on the existing leases, the Client was struggling to get a more attractive rate with other lenders. We were able to structure the deal in such a way as made sense for both the Client and lender, and in doing so get an approval for a substantially reduced interest rate with a traditional bank.
5/2014 – $1.56 million Retail Building: The Client had their loan on a retail investment property sold to a private lender. The loan was maturing and the private lender indicated that they prefer not to renew the loan. There was not sufficient collateral value from the property to support the loan. We were able to work with the Client to get additional collateral pledged and get an approval to refinance the loan at a very attractive fixed interest rate.
5/2014 – $260,000 Line of Credit: Our Client’s main operating business had been strategically shrunken due to some changes in the business model that made certain business segments less profitable. However, other related business entities had been started and were growing quickly. The existing lender wanted out of the loan due to the fact the business they were lending against had shrunk. We were able to procure new financing with a community bank to help them continue to grow their business.
4/2014 – $1.1 million Construction Loan: The Client was in the process of building a partially pre-leased retail building. The Client had owned the land for many years, and we were able to procure financing for up to 100% of construction costs (with the land value as equity) for the construction of the new retail building with a community bank.
3/2014 – $430,000 Mixed-Use Building: The Client has purchased a business that was struggling on contract and immediately began operating the business. However, the building was in the process of being taken back from the Bank from the previous owner, and the Bank was threatening to sell the building out from underneath the new owner of the business. We were able to structure an SBA 7A loan to allow our Client to purchase the building, which saved the business she had acquired and turned around. The Client had little assets and ended up getting working capital back out of the transaction, leaving them with only about 5% in cash equity into the building and business acquisition.
2/2014 – $2.3MM Business Buy-out: The Client had a successful growing business and needed to buy-out his partners in order to continue growing the business. We were able to structure a leveraged business buy-out with an SBA 7A loan, allowing the Client to take out his partners. The collateral for the loan was some equipment but was primarily enterprise value, and despite a lack of available collateral we were still able to get the loan done with the SBA 7A guaranty.
1/2014 – $310,000 Industrial Building: The Client was in a tough industry and had a high interest rate private loan on their owner-occupied industrial building. They had to get that loan when their existing Bank pushed them out due to some struggles they went through with the economic downturn. We were able to bring a new community bank lender to the table that could get comfortable with the business segment the Client operated in, and closed on a refinance of their building at an attractive market fixed interest rate.
12/2013 – $1.6 million Apartment Building: The Client was being pushed out of their existing Bank due to its acquisition by another Bank under loss share. The Client had a number of previous condo conversion projects, some of which had been converted into apartment buildings and others of which were broken up with some condo sales and other units they still owned. We were able to bring a traditional bank lender to the table to refinance their one apartment building for roughly $1.2 million and to provide them with a second $400M construction loan to complete renovations on another property they own.
12/2013 – $2.5 million Apartment Building: The Client’s existing loan was maturing and was being pushed out of their existing bank due to some poor credit and some tax liens. They were not in a position where the property could be placed with a traditional bank due to the credit issues. We were able to bring a private lender to the table to give them an interest only loan for another two years to buy them time to cleanup their credit issues and flip back to traditional financing.
12/2013 – $800,000 Industrial Building: The Client was coming out of a hard money loan where the lender was threatening to take back their investment industrial building held as collateral on their loan. Because the client was not quite fully bankable yet, we were able to bring another private lender to the table to refinance the property at a much lower rate and on an interest only basis, and give the Client two additional years to get their finances in order.
11/2013 – $800,000 Apartment Building: The Client was being pushed out of their existing bank due to their bank being a loss share acquisition. The Client owned numerous investment properties, some of which were performing better than others. We were able to structure a refinance of their apartment building with a private lender but at a market interest rate, saving the property for them.
10/2013 – $400,000 Industrial Building: The Client was coming out of a work out situation between a retail building they owned as an investment and an industrial building that they partially leased and partially owner-occupied. We were able to work with them and help them reposition the retail building with their existing lender, while refinancing the industrial building out at a decent market interest rate with a traditional bank, saving that building from the cross-collateralization going forward with their retail building loan.
10/2013 – $250,000 Industrial Building: Client has a successful business in an owner-occupied industrial building, but due to the small size of their loan had a high interest rate with their existing big bank and were not happy. We were able to get the loan moved to a new bank at a substantially lower interest rate.
9/2013 – $2.4 million Retail Center: Borrower had recently come out of a struggled situation on three retail centers they owned and were currently with a bridge lender. We were able to help them restructure the deal and get them into traditional bank financing at an attractive fixed market interest rate.
8/2013 – $210,000 Church: A small community church was struggling to find a lender to work with them due to the size of their transaction. We were able to get them to the right community lender to fund a refinance of their church.
8/2013 – $690,000 Industrial Building: Client had an owner-occupied industrial building they needed to refinance. They had some issues finding a lender due to flat revenues and profits from the business and some environmental issues with the property. We were able to bring a community bank lender to the table that was able to get around the issues that existed and fund the loan at an attractive fixed market interest rate.
7/2013 – $1.75 million Multi-Property Loan: Borrower had an existing hard money loan relationship due to previous foreclosure activity with a previous lender. The loan was maturing and the hard money lender was demanding a payoff or threatened to take back the collateral properties, which included the Borrower’s residence, an owner-occupied office building, and several other investment properties. We were able to procure funding through a new bridge lender at a rate roughly 8% lower than the existing financing and buying the client 18-months to refinance or sell the collateral properties to repay the debt.
7/2013 – $1.1 million Equipment Financing: Borrower had an existing lending relationship that was not willing to provide financing for additional equipment needed to expand his business. We were able to find a new lender willing to provide not only the new financing but also an attractive refinance of the Borrower’s existing equipment, extending out the amortization and helping to improve cash flow. (Part of two loans – see below)
7/2013 – $900,000 Equipment Financing: Borrower had an existing lending relationship that was not willing to provide financing for additional equipment needed to expand his business. We were able to find a new lender willing to provide not only the new financing but also an attractive refinance of the Borrower’s existing equipment, extending out the amortization and helping to improve cash flow. (Part of two loans – see above)
7/2013 – $320,000 Mixed-Use Building: Borrower’s existing lender was not renewing their loan, and the Borrower needed to find a new lender on their mixed-use office / apartment building. Despite several struggling years and credit that included a short-sale, we were able to get a traditional bank lender to approve a refinance of the building at an attractive fixed rate.
6/2013 – $1.82 million Multi-Family Property: We were able to procure a client with a large multi-family building cash-out financing on a fifteen-year fixed rate mortgage through Fannie Mae’s Multi-Family program at a very attractive fixed interest rate, without requiring tax returns for underwriting.
6/2013 – $165,000 Mixed-Use Building: Borrower had a mixed-use building that his previous bank had sold the loan on along with the loans on two other properties he owned to an investment fund. Despite the fact there was an agreed upon discounted payoff in place with the investment fund on the subject loan, with the client only refinancing the subject property and giving the other two properties back to the fund as part of the agreement, we were able to procure an attractive fixed rate financing on the subject building refinance with a traditional bank.
6/2013 – $430,000 Business Loan: Borrower’s existing business loan had been sold by his Bank to a private investor. We got the Borrower approved with a traditional bank and with that approval assisted the Borrower in negotiating a discounted note payoff with the investor, which the traditional bank lender was willing to fund, saving the client roughly $150,000 in principal.
6/2013 – $1.25 Million Industrial Building: Borrower owned an existing industrial building that the existing lender was foreclosing on due to non-renewal. Even though the building was vacant, due to the fact the Borrower planned to open a business in the building we were able to get replacement financing in place with a traditional bank lender.
5/2013 – $850,000 Mobile Home Park: Borrower owned a mobile home park that was caught up in a combination of a Bank non-renewal of a loan and probate. In addition, there were back estate taxes owed. We were able to bundle all debts into one new loan, and get an attractive fixed rate transaction completed with a traditional bank for the full amount, satisfying all debts outstanding and clearing title for the new owners.
5/2013 – $10.7 million Industrial Property Portfolio: Borrower owned eleven industrial buildings all owned as investment properties. They were currently financed through a hard-money lender due to foreclosure action taken by the Borrower’s previous lender. We were able to refinance the debt at competitive market rates with a traditional bank, despite the one-year old foreclosure history, cutting the Borrower’s existing rate by close to 15%.
5/2013 – $190,000 Owner-Occupied Office Building: The Borrower had a relatively new business and had contracted to acquire an office building the business would occupy. The Borrower needed to close quickly to complete the acquisition. We were able to provide traditional bank financing to complete the acquisition, and flexed an existing residential investment property for equity to provide the Borrower 100% financing between the acquisition and the proposed improvements the Borrower planned to make for the property, without the need for a construction escrow to be setup.
5/2103 – $660,000 Industrial Building Refinance: Borrower’s existing lender was not interested in renewing the commercial mortgage on his partially owner-occupied industrial building. Due to the fact the Borrower’s main business was in the construction industry and the client experienced several rough years, he was not able to easily find replacement financing. We were able to find a large national bank that provided a very aggressive fixed rate loan due to the primarily owner-occupied nature of the property.
5/2013 – $700,000 Apartment Building: Borrower owned an apartment building that they had recently rehabbed. They were looking to refinance the property to get cash-out to cover some existing debts. However, the property had not had consistent cash flow for three years due to the renovations. We were able to procure financing to refinance the building and get the requested cash-out with a conforming private capital lender at an attractive fixed rate despite the lack of a stabilized historical occupancy.
5/2013 – $700,000 Banquet Facility: Borrower was acquiring a banquet facility out of foreclosure. Borrower had limited experience managing banquet facilities. We were able to get the Borrower an approval through an SBA 7A lender for the acquisition and improvements to the property to reopen the banquet facility.
4/2013 – $1.3 million Multi-Family Properties: Borrower was looking to refinance multiple multi-family properties that were maturing and the existing lender refused to renew. We were able to bundle the financing with one traditional bank lender, and get an attractive fixed rate transaction closed.
4/2013 – $400,000 Multi-Family Building: Borrower owned a multi-family building that her existing Bank was not willing to renew. We were able to get the building refinanced with a traditional bank lender at an attractive fixed interest rate.
4/2013 – $3.1 million Apartment Building: We were able to procure financing for a large apartment building acquisition loan through Fannie Mae despite the fact the Borrower’s lived out-of-state from the property.
4/2013 – $900,000 Construction Loan: Borrowers were constructing a new office building for their businesses. We were able to procure them construction financing through an SBA 7A loan program despite the construction risks in this market.
3/2013 – $1.4 million Drug Treatment Center: A non-profit was looking to refinance their drug treatment center. Due to the market the property was located in, with very high vacancies, and due to the nature of the property, many lenders had taken a pass. The existing lender had the property financed at a very high rate. We were able to bring in a larger banking partner for the organization and get the transaction closed at a very attractive fixed interest rate utilizing a swap program.
3/2013 – $85,000 Auto Repair Shop: The previous loan had been sold, and because the client had bad credit he could not refinance his owner-occupied auto repair shop. The note purchaser was starting foreclosure. The client brought his son in to be the Borrower on a purchase acquisition, and despite his son’s young age of 23, we were able to get an acquisition loan approved at conventional rates with a conventional bank, saving the property and likely the father’s business that operates from that property as well.
3/2013 – $800,000 Industrial Building: Borrower was looking to make a quick closing on the acquisition of an industrial building a Borrower had to sell quickly. We were able to get the loan approved with a traditional lender at an attractive fixed interest rate within 48 hours time and get the loan closed in just under two weeks, even including a full commercial appraisal.
3/2013 – $3.5 million Saw Mill: The Borrower had acquired a saw mill out of foreclosure utilizing private loans at high rates. They were able to get the mill re-opened and operating quite profitability. However, the negatives with the transaction were the guarantors had really no assets and liquidity, and one of the guarantors was the previous owner under which the saw mill failed with the previous lender. We were able to procure an SBA 7A loan for the refinance of the mill, which included additional working capital and new equipment financing, and would substantially reduce the interest being paid to the current private lenders.
2/2013 – $1.8 million Retail & Apartment Buildings: Borrower was having a retail building he owned foreclosed on. The property was over-leveraged. The foreclosure had negatively impacted the Borrower’s credit as his home was crossed in the transaction and the Bank and his first mortgage holder had filed for foreclosure on his residence. We brought in a private lender that was able to leverage other assets to refinance the subject property on a bridge loan with a discounted payoff, to buy the Borrower time to fix his credit to he could refinance more permanently.
2/2013 – $1.25 million Apartment Building: Borrower was looking to refinance an existing apartment building with cash-out. The issue the Borrower had was that personal cash-flow was very tight and the building had not been updated in a number of years. We were able to procure a financing approval at a very attractive seven-year fixed interest rate with a traditional lender to fund the refinance and the requested cash-out.
2/2013 – $250,000 Apartment Building: Borrower was acquiring an apartment building out of a foreclosure sale and needed to close quickly. We were able to procure a loan approval within roughly 48-hours time at an attractive fixed interest rate.
1/2013 – $652,000 Industrial Building: Borrower with growing business was purchasing an industrial building to move their business into. Borrower had limited cash to put down and also make the required improvements for his business, while also keeping reserves to help fund his growing business. We were able to get the loan approved utilizing the SBA 504 loan program, with the approval including money for the required improvements, procuring the Borrower both a strong bank rate but also a very strong SBA 20-year fixed rate on 40% of the transaction.
1/2013 – $110,000 Apartment Building: Borrower had bad credit and needed to refinance their apartment building to settle some debt. We were able to bring in a lender that could get over their credit issues and complete the refinance for them.
12/2012 – $2 million Retail Center: Borrower owned a retail center leased to a Bank on a long-term lease. The existing lender, that happened to be the Bank leasing the property, was not interested in renewing the loan. Other quotes provided were at higher rates. Borrower also wanted to get cash-out. We were able to procure a refinance of the property on a seven year very attractive fixed rate loan from a community bank lender, giving the Borrower the cash-out he desired.
12/2012 – $1.75 million Retail Center: Borrower owned an existing Walgreens store that had an environmental issue in the one corner of the property. Because of that issue, many lenders would not tough the property. We brought in a community bank lender that was willing to fund the loan including money to take care of the environmental issue, and did so at a very attractive fixed interest rate.
12/2012 – $270,000 Industrial Condominium: The property was an owner-occupied industrial condominium. The issue was the Borrower was in the trades, and had experienced several rough years due to the economy, causing his existing Bank to push him out. We were able to bring in a local community bank lender who could get around the bad years and complete the refinance.
12/2012 – $1.2 million Auto Repair Centers: Borrower owned several auto repair centers that were leased to third party operators that the Borrower was interested in refinancing. His existing lender was collecting 100% of the rents and applying the difference to principal, and the Borrower wanted to get some cash-out to have on reserve and get a more traditional amortizing loan. The issue was that several leases were coming due within the next three years. We were able to procure a long-term loan at an attractive fixed rate from a conforming private lender providing the requested cash-out and the control over cash-flow the Borrower was seeking.
11/2012 – $412,000 Apartment Building: Borrower was at a very high interest rate on her existing apartment building loan. We were able to procure financing for the property at a much better rate.
11/2012 – $200,000 Industrial Building: Borrower was looking to finance the acquisition of an industrial building to be owner-occupied. The building was being sold be a Bank that had taken it back in foreclosure, and was looking to close on the sale quickly. We were able to get financing done with a traditional source despite a couple of rough years with the business and some bad financial reporting.
11/2012 – $180,000 Apartment Building: Borrower was acquiring a new apartment building that had been recently stabilized by the seller with only a couple of months of stabilized operating history. We were able to bring in a lender that could make the loan despite no historical operating income and expense numbers.
11/2012 – $2 million Equipment Financing: The main business had only been in place for roughly 1 ½ years. Because of that the Borrower would not qualify with most traditional lenders and equipment leasing companies for financing for two new large machines to meet performance obligations under a large oil contract. We were able to bring in a private equipment lender who understood the market and the machines and get the equipment financing in place.
10/2012 – $2.4 million Industrial Building: Borrower was looking to settle his father’s remaining estate, and refinance one remaining building out of the estate into this name. Due to the fact most of the tenants were on month-to-month leases, despite very strong historical cash-flow, larger lenders passed on the transaction. We were able to bring in a local lender to complete the refinance at a very attractive fixed interest rate.
10/2012 – $1.6 million Mixed-Use Restaurant / Retail / Office Building: Borrower’s existing lender was looking for Borrower to move the loan due to the nature of the building, short-term leases, and tight cash-flow. We worked with the Borrower to help them get additional leases in place and were able to evidence to a community bank the benefits of making the loan.
10/2012 – $190,000 Apartment Building: Borrower was getting pushed out of his existing Bank on his apartment building loan due to the Bank exiting investment real estate. We were able to get him very attractive fixed rate replacement financing on his apartment building.
10/2012 – $770,000 Funeral Home: Borrower was looking to refinance an owner-occupied funeral home to reduce his interest rate and lock in long-term financing. We were able to secure him a ten-year fixed rate mortgage at a very attractive interest rate on his funeral home.
9/2012 – $1.4 million Car Wash: Borrower was looking to buy-out partners on a cash-wash they had just acquired out of foreclosure roughly a year earlier. Utilizing an SBA 7A loan, we were able to get the car wash refinanced, giving our client full control.
9/2012 – $1.5 million Retail Buildings: Bank was foreclosing on two properties owned by a Borrower. The one property was over-leveraged, while the other property was still performing. We were able to assist in negotiating a settlement on the one property and brought in a bridge lender to take out the one property while a settlement could be worked out on the over-leveraged property.
9/2012 – $400,000 Dental Practice Loan: Borrower was slightly over-leveraged in his operating of three existing dental practices. He was able to negotiate a discounted not payoff with his existing lender. We found a community bank lender willing to refinance his dental practices even with the discount.
8/2012 – $1.6 million Office Building: The Borrower’s existing Bank was pushing them out due to some leasing issues with their current building, although the building did cash-flow. Larger institutions were not interested in the financing due to tenant turn-over risk. We brought in a community bank lender to make the loan at still an attractive fixed interest rate.
7/2012 – $3 million Floor Plan Line of Credit: Auto dealership with a classic car floor plan line was getting pushed out by their existing bank, having had their previous line frozen and large principal payments required. This had negatively impacted revenues over the last year. We were able to evidence to a local lender their ability to service debt and ability to generate additional sales with a new floor plan line in place.
7/2012 – $1.6 million Retail Building: Client was looking to build a new retail center that would be partially owner-occupied by his dental practice and by his wife’s daycare facility with the remaining space available for lease. The property was being constructed in a tough urban market. We were able to procure an SBA 7A loan approval to fund the construction and end-loan on the property.
6/2012 – $1.25 million Business Loan and $250,000 Working Capital Line of Credit: Borrower’s bank had been taken over by a new bank, and the new bank refused to renew Borrower’s business loan. The funds had originally been used to fund business growth and investments in new technology. We were able to procure an SBA 7A loan to provide long-term financing on the term debt as well as to secure the business a new working capital line of credit.
6/2012 – $800,000 Restaurant: Borrower was already operating a restaurant in a building and was looking to acquire the building they operate out of. Borrower had limited cash to fund the acquisition of the building as they were also in the process of opening up another location. We were able to facilitate the approval of an SBA 7A loan so that they could fund the acquisition of the property.
6/2012 – $1.4 million Retail Center: Borrower had a largely complete retail center. However, the center had never been fully completed and had sat vacant for roughly a year due to the existing lender stopping to fund construction due to struggles that lender had. We were able to get approval for a bridge loan on an interest only basis to provide the capital necessary to complete the project and get it leased up, at which point the Borrower could refinance it into a permanent end loan.
6/2012 – $800,000 Equipment Loan: Expanding medical practice was in need of additional equipment, and we were able to procure that equipment at a very attractive interest rate.
4/2012 – $375,000 Apartment Building: Borrower’s existing loan was coming due, and we were able to get replacement financing at a very attractive fixed rate.
3/2012 – $450,000 Receivable Financing: Long-time company was about to lose their equipment due to their lender pushing them out of the Bank. Due to credit issues traditional financing options had already been exhausted by the Borrower. We were able to step in and within a few weeks time procure private AR financing from a private lender (not a factoring company) to payoff the Bank debt and allow the company to keep their equipment and stay in business.
3/2012 – $225,000 Daycare Center: Borrower’s existing daycare facility was expanding, and they needed financing to complete the acquisition of a new daycare facility. The means to cover the additional debt related to the new facility was largely due to business growth. We were able to evidence to several lenders their ability to support the new property debt service.
3/2012 – $1.26 million Apartment Building: Borrower had acquired an apartment building out of foreclosure that needed some work. We were able to procure a bridge loan to fund the remaining improvements on the property and help stabilize the property, at which point it could then be refinanced into a more conventional loan.
2/2012 – $2 million Equipment Financing: A relatively young company was looking to acquire some heavy equipment to support a new contract. Due to less than two years of business history, traditional equipment financing companies were not interest in the transaction. By preparing a detailed global analysis on all of the business holdings of the Borrower, we were able to present their request to a private hard money equipment lender and get approval for the financing of this large equipment financing at a loan to cost over 80%. This financing will give the company the equipment they need to meet the terms of their very lucrative contract.
2/2012 – $2.9 million Retail Building: Borrower had an existing retail building that was vacant. Borrower was in need of cash to pay leasing commissions and to complete building improvements and tenant build-outs as required by new leases with strong tenants. Due to a lack of liquidity and currently no cash-flow, the Borrower could not get construction financing through traditional banking sources. We were able to place this transaction with a hard money lender to get the borrower 100% financing of all costs to complete the improvements and get the new tenants moved into the property.
2/2012 – $2.45 million Medical Office Building: Borrower owns a newly constructed medical office building that is roughly 30% owner-occupied. Borrower needs to refinance the property to get its interest rate down and because the loan is maturing shortly. However, the property is only about 50% leased at the moment. Despite this fact we were able to prove up cash-flow and borrower financial strength and get the loan approved with a regional bank with the option of a Libor plus 3.25% floating rate or a fixed rate in the mid to upper 4% range.
2/2012 – $250,000 Apartment Building: Borrower was getting pushed out of their existing Bank that was exiting the investment real estate market, and needed to refinance a small apartment building they owned. They were unsuccessful in getting the financing on their own due to some high personal credit. We were able to completely analyze the request and get their credit and cash-flow explained, and procured them with the financing for the property.
2/2012 – $120,000 Office Building: Borrower was looking to expand their home daycare business and purchased an office building to rehab and move the business into. Despite relatively low existing income and a tight personal ratio, we were able to evidence the benefit for them in acquiring the subject building and placed the financing with a regional lender without any SBA support.
1/2012 – $700,000 Office Building: Borrower was under contract to purchase an office building to move his business to. Due to market conditions, the Borrower had experienced a loss on another investment property, which was showing up on his credit. Despite this issue we were able to highlight the positives of the new transaction and prove up cash-flow and financial support for the loan request, and get approval utilizing the SBA 504 loan program at an attractive market interest rate with a traditional local bank lender.
12/2011 – $8.5 million Retail Center: Borrower owns an existing retail center and their loan was about to mature with their local lender. Due to the fact the Borrower was heavy on investment real estate, their local lender was not interested in renewing the loan. We were able to procure two loan approvals for them, one through a conduit and the other through a conforming rate private lender, where deposits and relationship were less of a concern and the focus was on the asset itself. Both offered very attractive five-year interest rates below 5%.
12/2011 – $2.5 million Gas Stations: Borrower was under contract to purchase three gas stations at a substantial discount from a borrower and lender in possession. The Borrower was putting significant cash down at time of purchase. Despite market conditions for gas stations, we were able to get acquisition financing approved at an attractive market interest rate from a regional bank.
12/2011 – $700,000 Special-Use Financing: Borrowers were struggling to refinance two lube centers held for investment due to market conditions, and the Borrower needed to move the loans out of their existing Bank. We were able to due a detailed analysis on global cash-flow and liquidity for the owners, and get a regional bank to approve the loan at a very attractive market rate of 5.25%.
11/2011 – $800,000 Equipment Financing: A growing medical practice needed to acquire additional equipment to fund transaction. However, due to complicated financial statements and multiple ownership entities, the cash-flow was hard to understand. We were able to provide substantial underwriting, explanations, and financial support from the request, and procured the required financing from a regional bank at a very attractive rate of Libor plus 3.25% (roughly 3.50% initially at closing).
11/2011 – $900,000 Business Term Loan: Borrower was under contract to purchase three additional Dunkin Donuts franchises and had a tight window in which to close on the financing. We were able to quickly underwrite his full business operation and present a relatively low risk financing option to our lenders, and were successful in getting him the financing necessary to acquire the new stores in a short-period of time and with an attractive variable rate starting at 4.75%.
11/2011 – $150,000 Mixed-Use Building: Borrower was past due on the real estate taxes for multiple investment properties and due to high leverage had tight cash-flow. He did own two properties that were free of debt and needed cash-out to pay his real estate taxes and get his properties back in financing order. We were able to procure a hard money loan for him to get him the cash-out he needed to cover his taxes and work to get his properties refinanced at a lower interest rate.
10/2011 – $1.4 million Industrial Building: Borrower refinanced an existing industrial building in order to reduce its interest rate. We were able to procure an attractive fixed interest rate with a regional bank substantially below their existing interest rate.
10/2011 – $1.3 million Operating Line of Credit: Due to business growth, the Borrower needed increased availability of their existing line of credit. However, their existing bank did not seem interested in increasing their line of credit. We were able to procure them a line of credit increase with a regional bank from $500,000 to $1.3 million as well as reduce their interest rate from Prime based with a floor in the upper 4% range to Libor plus 3.25% with no floor.
10/2011 – $875,000 Business Term Loan: Borrower was in the process of buying out a partner in their manufacturing business. They struggled for years to get the financing they needed to complete a leverage buy-out of their partner. We stepped in, provided detailed credit analysis and background, and worked with a regional lender and the SBA to get an SBA 7A loan in place to fund the leverage buy-out, allowing the owners to get rid of a destructive owner to their business.
9/2011 – $250,000 Industrial Building: Borrower had recently gotten divorced and as part of his divorce settlement needed to payout his ex-wife on his business. He currently owned his existing industrial building where his business operated out occupying 33%, and needed to refinance that property with cash-out to settle his divorce. Despite the presence of the divorce and the fact the loan request included cash-out, we were able to procure him financing at a very attractive market rate of 5.75% on his property to settle his divorce from a local Bank.
7/2011 – $650,000 Industrial Building: The Borrower owned an extremely unique rural owner-occupied industrial property that also served as their personal residence. Because of the uniqueness of the property most lenders were not interest in refinancing the loan. In addition, the Borrower had invested significant capital upgrading the property utilizing credit cards because they had an end loan pre-approved, but when they went to fund the end loan their existing bank refused to fund it. We were able to underwrite the deal highlighting the positives and clearly explaining the cash-flow to find a local / regional bank to fund the transaction despite the high credit card balances and unique nature of the property, saving the borrower substantial money on credit card payments and consolidating their expenses into a more workable situation.
6/2011 – $3.25 million Apartment Building: The borrower was looking to refinance their existing apartment building and get the best interest rate possible. We were able to get an approval to refinance the building through Fannie Mae at a very attractive 10-year fixed interest rate in the mid 4% range, saving the borrower almost 2% over where their current interest rate was at.
6/2011 – $230,000 Medical Office Building: A doctor was looking to expand his existing medical practice, and was under contract to buy an office building to operate out of. Due to market conditions and their short-time in business they struggled to find a lend to fund the transaction. We were able to find a regional lender willing to fund the transaction at a very aggressive rate, and got an attractive loan approval for the Borrower limiting their cash into the transaction.
6/2011 – $1.8 million Equipment Financing: Borrower had a growing medical imaging business and could not get the additional financing needed to grow his business from his existing lender. Part of the issue related to confusion over multiple business entities. We were able to breakdown those business entities and provide detailed financial and cash-flow analysis to prospective lenders, and was able to get him the additional financing he needed to expand at a very attractive rate of Libor plus 3.25% (roughly 3.50% at time of funding) as the Borrower chose to take the variable rate because it was so low.
5/2011 – $800,000 Special-Use Property: Borrower owned a special-use property that was a nightclub with very little debt. The Borrower needed to get cash-out to cover other real estate issues, but could not get the financing done in the traditional market due to the property type. We were able to procure a hard money loan to get the property refinanced and to get the borrower the cash-out they needed.
5/2011 – $3.7 million Restaurant Financing: Borrower was getting pushed out of his existing Bank and needed to refinance his existing successful restaurant operation. However, the business was still relatively young with just over a year in operation. We were able to highlight the positives of the transaction and get an approval for financing with a traditional lender at a strong fixed rate.
4/2011 – $650,000 Construction Loan for a Mixed-Use Property: Borrower had started construction on a new mixed-use property in Chicago using her own cash. However, she had a loan approval in place from her Bank. When it was time to utilize bank capital, the Bank backed out of the deal. She needed to get financing for a half complete project with little personal liquidity left (it had all already been invested into the project). We were able to procure her financing with a local market bank for the property by repositioning her assets and focusing on her global cash-flow that not only included the money needed to complete the project but also included $100,000 in capital back out to her once the project was completed and leased out.
4/2011 – $950,000 Apartment Building: Borrower’s loan was maturing and due to struggles at her existing Bank, they were not interested in renewing the loan long-term or at market interest rates. We were able to take her loan to market and procure her an attract rate on a longer-term refinance.
3/2011 – $3.5 million Apartment Complex: Borrower owned a minority interest in an apartment complex in Florida. Due to a huge drop in rental rates due to the economy, the property no longer performed at its current debt level. The borrower negotiated a discounted note purchase, and we were able to fund a purchase of the note at 78% financing with a hard moneylender on a short-term (one-year) basis. It allowed the borrower to avoid foreclosure, and we were able to refinance the property into a Fannie Mae mortgage loan a few months later.
3/2011 – $1 million Line of Credit: Borrower was a builder by trade and was in need of a line of credit to fund on-going construction. We were able to get him approved for a line of credit by putting together a financing program where he pledged several free and clear investment properties he owned to secure the line of credit. This gave him the ability to borrow money only when needed for projects, and gave the Bank comfort because there was cash-flowing properties for the Bank to fall back on to support the loan should the need arise.
2/2011 – $4.6 million Hotel Loan: Borrower owned an existing hotel that had positive cash-flow and they had plans to expand and upgrade the hotel and needed construction financing to do so. Because of market conditions, their existing lender was not willing to fund that construction. We were able to procure a loan approval from a national bank under the SBA 7A loan program to provide capital to refinance and fund the requested build-out of the hotel without any additional cash into the deal from the Borrowers and at an attractive market interest rate.
6/2011 – $800,000 Apartment Building: Borrower owned a condominium building that had been leased out as apartments with no debt. Borrower wanted to refinance the property with cash-out in order to take advantage of real estate prices and to acquire additional properties. However, the Borrower struggled to find financing on his own due to the fact his primary income was as a builder. We were able to get the loan approved through Fannie Mae for $800,000 in cash-out financing at a very attractive 10-year fixed rate.
1/2011 – $600,000 Industrial Building: Borrower was looking to purchase an industrial building to move their business into off a Bank. Because it was a Bank sale, the Borrower had limited time to close. Their existing lender was not interested in the transaction, so they came to us with a very tight time frame in which to get the deal done, which also meant SBA financing would not work. We were able to get them an approval and move the loan forward very quickly so they could close on this transaction.
12/ 2010 – $1.4 million Mixed-Use Primarily Apartment Building: Borrower needed to refinance an existing mixed-use building out of a Bank they were getting pushed out of. They could not get financing on their own due to the nature of the building being investment and mixed-use. We were able to position the property in light of the borrowers full relationship and get the financing completed on a conforming loan with a solid national bank at an attractive fixed rate, as well as help them settle their debt.
12/2010 – $1.9 million Retail Center: Client owned a center with only 67% occupancy and was being pushed out of his existing bank due to them existing retail lending. We worked hard to position the property in the best light by gathering information on the existing tenants and encouraging early renewals on leases, and was able to place the loan with a local community bank at a rate lower than the previous lender at 6.25%.
12/2010 – $500,000 Apartment Building: Borrower was under contract to purchase a 12-unit apartment building in Chicago that was run-down. His existing bank denied the financing last second due to current cash-flow and he could not find another lender willing to do the deal. We were able to step in and find a replacement lender in a very short period of time and got him an attractive deal at a rate of 5.75%.
11/2010 – $1.3 million Apartment Building: The borrower had done a full gut rehab of a large apartment building and was looking to refinance the building and get cash back out of the project to take care of the investors in the project. We got a loan approved through Fannie Mae for up to 90% of their total cost for the project refinanced on a longer-term attractive market interest rate, allowing them to payout all investor capital and get back out of the property a majority of the capital they originally put into the property.
10/2010 – $2.4 million Apartment Buildings: Client was looking to refinance their existing apartment building portfolio and move from a higher 3-year fixed rate to a longer term fixed rate We were able to procure an interest rate one percent below the borrowers existing rate on a ten-year fixed basis with a 30-year amortization utilizing a Fannie Mae financing program, saving the Borrower substantial money and hassle.
9/2010 – $1.3 million Industrial Condominiums: Client was struggling to refinance one industrial condominium unit because the value had dropped. CLX was able to combine that unit with another unit with equity and achieve 85% financing between the two units (without SBA assistance) and get a very attractive rate well below market at 4.25%.
8/2010 – $3 million Operating Line of Credit (Asset Based): Client was being pushed out of his existing bank and had his line of credit reduce from $2 million to $1.5 million. We were able to get a new line approved at a new institution and not only get him the $2 million he needed to operate, but also get him a fresh $1 million in new capital with pricing at Libor from 3.50% with a floor of 4.25%.
7/2010 – $500,000 Working Capital Line of Credit: Borrower was in need of a new working capital line of credit to expand his medical practice. However, due to some personal credit issues, he struggled to get his financing placed on his own. We were able to step in and structure his transaction focused on business cash-flow and get him the capital he needed to fund the expansion of his business and a solid variable market rate.
5/2010 – $3 million Construction Loan for a Medical Office Building: The borrower was looking to construct a new medical office building that would be more than 50% owner-occupied by a medical practice. With the market struggling, it was a challenge for the borrower to find construction financing. SBA financing was also a challenge to find because the borrowers business was new. We were able to get a five-year loan approved including 18-months interest only for construction at a rate of 8.50% fixed.
3/2010 – $350,000 Business Loan and $75,000 Line of Credit: Borrower was in need of some working capital to support his existing Veterinary business. His existing lender refused to extend him fresh capital. We were able to find a replacement lender interested in growing with the client and got him new financing including some new equipment financing.