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Monthly Archives

September 2021

What's Closing Now

$618,750 – Refinance – Multifamily

Napa Valley, CA

For this returning client, we were tasked with figuring out a refinance with challenges. The goal was to stabilize a recently-purchased rental property, but the cash flow as it stood would not support a cash-out refinance. With a little creative strategizing, we were able to place her with a 25-year fixed-rate amortizing loan with a 2-year prepay penalty. This allowed her time to remodel, stabilize the property, and make some payments for an operating statement – so that in the near future, we can secure for her a cash-out refinance permanent loan to recoup the investment and purchase more property!

Complicated loan requirements? Let’s put our heads together. Give us a call at (888) 959-1648 or email us at info@comcapfl.com.

What's Closing Now

$2,595,000 – No-Collateral SBA Loan – Tech Company

Headquartered in Florida

Our client, a VOIP network owner-operator, is way ahead of the game with more than 4 U.S. Business Patents on their technology. This VOIP company raised $3 million in private equity to turn their network into cloud-based system – reducing overall business cost. At this point, they wanted to refinance because they had to pay a whopping 12.5% to private equity. They have no real estate, several employees but not many… which makes this a “risky” loan on first glance. We call this an AIRBALL – if business stopped tomorrow, what does lender have left? Tech? But how would they use it?! We were able to do it only with an SBA 7a, only today/these times, only here at ComCapFL -No down payment, just a straight business loan despite no collateral.

Complicated deal? Let’s put our heads together and strategize for your commercial property’s future. Give us a call today at (888) 959-1648 or email us at info@comcapfl.com.

Refinance, What's Closing Now

$945,000 – CRE Refi – Retail

Kissimmee, FL

This business owner originally purchased a business and its building with private/owner financing. After paying off and selling the business, he wanted to obtain a permanent loan to pay off the rest of the building. The building was pretty strong – a retail property with a single tenant, great location on a major highway… that is, until the pandemic hit. Since Kissimmee’s economy relies heavily on tourism that overflows from the Disney area, businesses were highly effected and commercial building values collapsed.

Even though the business was strong (pawn shop) all of the properties around them had reduced rents so they got a bad appraisal. Despite the lowball appraisal, we were able to close this “undesirable” business type* with relatively little cash down, with a 30-yr fixed rate on a great loan!

(Typically, “cash businesses” such as pawn shops are considered by government agencies and most banks to be undesirable because the cash flow isn’t easily traceable.)

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