Recent Success Stories
Below are a few recent success stories to help provide more detail on the type of transactions we can get financing for at Commercial Lending X.
Banquet Facility Refinance – Client was looking to refinance a banquet facility being carried by a private lender who funded acquisition so the client could start the business. We were able to provide traditional bank take-out financing for $1.85 million end loan at an attractive fixed interest rate.
Equipment Financing – Client was looking to expand their heavy equipment leasing company just over one year in business. We were able to secure a guidance line of credit with a traditional bank at an attractive fixed rate for up to $3 million in equipment purchases, providing up to 90% financing on the acquisition of new and used equipment, with each acquisition being funded into an individual 5 year term loan with 6 months interest only on the front end.
Restaurant Business and Property Acquisition – we were able to secure 90% financing for the acquisition of a restaurant property and the associated restaurant business via an SBA 7A loan, while also providing a separate loan with capital to make upgrades to the property and business.
Policy Updates – New Programs
Multifamily 6 to 12 Unit Special Pricing Program Extended offering fixed rates starting in the low 4% range fixed for 5 years with 7 and 10-year options available, 30-year amortizations, refinances up to 80% of value and cash-out up 70% of value. Looking for stabilized properties with historical cash flow to support proposed debt service.
Investment Property Portfolio Lender – National Private Lender with a portfolio product for investment real estate deals including apartments, retail, office, and select industrial, for deal sizes $2 million and greater and rates starting in the high 3% range. Non-recourse options are available.
SBA 504 Reminder – interest rates have come back down close to historic lows. If you are looking to refinance or acquire a commercial property to primarily owner-occupy with your business (51% or more occupied by your business), now is a great time to do so. Utilizing the SBA 504 program you can get a 10-year Bank commitment on 50% of the loan amount, finance as much as 40% of the loan amount via an SBA 504 loan and allow you to get away with as little as 10% down on the purchase. In April interest rates were 4.36% on the 20 Year SBA debenture and 4.53% on the 25 Year SBA debenture.
National Owner-Occupied & Investment Lending Platform – lender offering fixed rates starting in the high 3% range for loan amounts of $500,000 and more on owner-occupied commercial properties and commercial investment properties including retail, office, industrial, and some select special-use properties, with loan to values 65% and less.
As always, please find a link to our Loan Policy here where you can learn more details about all of the programs Commercial Lending X has to offer. Although not all inclusive, this policy provides some strong initial guidelines for a majority of the programs we have available to us.