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Archive, Refinance, What's Closing Now

$1,846,000 – Conventional Refi – Dental Office

Brandon, FL

This 20-year practicing dentist thought that he finally found his dream office! The bank was all too happy to bury him in a 5-year senior mortgage, with a 5% per year prepayment penalty — and they promised to fund the necessary renovations to convert the office from a chiropractic office to a dental practice. Then one day, they said, “Whoops, we can’t do that.”

After a year of agonizing over his lost dream, he called ComCapFL on the advice of another dentist and good friend.

The bank made it tricky, but after great effort, petitioning the SBA and mountains of paperwork — we were able to CLOSE on a Refinance Loan with enough money for the building renovations and its new equipment. Thanks to our team of think-outside-the-box specialists, his dream practice can become a reality!

Archive, Commercial Real Estate, Refinance

$1,288,500 Conventional Cash-out Refi, “No Doc”

St. Lucie County, FL

This investor was post-divorce and needed a liquidity solution, fast… but the cards were stacked against him. Even though he had a full portfolio of SFR’s, the bank still couldn’t consider this loan. The income property was worth far more than the cash flow supported, which made the deal difficult. However, ComCapFL is used to finding solutions for situations like this, where the banks can’t.

With decent personal credit, our No-Documentation program provided the solution he needed to refinance AND get cash out with a 30-year, fixed rate loan. One “blanket” loan on multiple rental units = problem solved! Not only did the investor get his liquidity, but now his portfolio is more manageable than before the deal. That’s just another good solution!

Archive, Bridge Loan, Fast Business Loan, What's Closing Now

$3,968,750 – Term/Bridge Loan – Gov. Contractor

Melbourne, FL

A fast closing was essential for a 40 year-old, stabilized government contractor. They called their own bank for a CRE cash-out refinance loan on their office property — a pristine piece of CRE collateral with less than $100K left on the original mortgage balance. After 3 months of “lip service” and wasted time, the bank came back with a “NO.” With 100 employees facing layoffs and over $200MM in new contracts approved and pending, we were able to provide a $500K term loan in less than 1 week… just in time for payroll, saving 100 jobs and a great business. We followed this loan with another $3,470,000 bridge loan from our in-house funds. We closed in under 3 weeks, with no appraisal, just in time to fund the operation’s cash requirements.

*On a personal note, all of us at Commercial Capital Ltd. really like it when we can help save jobs, protect the families and keep perfectly solid businesses from facing extinction – especially when the bank can’t!

Archive

$700,000 Line of Credit – Physician’s Practice

Vero Beach, FL

At the time that this doctor’s mortgage was about to term, the value of his collateral and real estate had significantly depreciated. Because of this, the bank denied his loan request, leaving him without collateral and without many options — until he came to ComCapFL.

Using his stock portfolio, we were able to set him up with a line of credit, secured not by his business collateral or real estate, but by his securities. (Note: the doctor did not have to SELL his stocks!) This loan, which functions similar to a Bridge Loan, allowed the doctor to free up enough cash to pay down the depreciated loan value AND refinance his property at the lower valuation with prime rates.

Surprise ending: after the line of credit and refinance, the doctor had his property reappraised — and actually got his money back!

Have an loan issue that seems impossible to solve? Call our experts today and see what kind of solutions are available to you (that the banks deny exist!)

Archive, Commercial Real Estate

$700,000 – CRE Purchase – Apartment Building

Cocoa, FL

This property was not your typical apartment property, but rather a “one-off” building (meaning some amenities of a typical apartment building were unavailable, which banks don’t particularly like to finance…)

We were able to finance the purchase with a fixed-rate, conventional purchase loan with cash out, which also provided extra capital for a new roof.

Even if you have an oddball property type, we have solutions for virtually every stabilized building. Typically, the rate difference between our lenders and the bank is only around 1%-2%! The important difference is that WE CLOSE on these properties when the bank won’t!

Archive, SBA

$1,144,500 SBA Restructure, Refi CRE – Manufacturing Co

Refinance – Industrial

A 25-year-old family business ran into a wall with the bank. The bank called their note post-recession just as their real estate collateral value dropped. The pressure was on and business was slow.

What the business did not know is that the SBA is also tasked with saving good, solid businesses that hit a rough patch as a result of the economy. They do this all in the interest of protecting and preserving jobs and protecting our small business economy – which is the lifeblood of America.

We solved their problems by consolidating their debt, restructuring and refinancing their commercial real estate and equipment. We also secured financing to provide working capital to catch up on their past-due vendor accounts in order to continue expanding production. Because of these SBA loans, the company was able to stabilize, resume production and carry on their legacy.

Archive, Commercial Real Estate, Refinance

$895,300 – Blanket Refinance on 8 SFR’s

Stuart, FL

Blanket refinance loans are powerful and convenient because it can cover multiple single family residences (aka SFRs) in one loan. This investor had individual mortgages on 8 different SFRs and all of them were coming to term. To add fuel to the fire, not all of the properties were cash-flow positive — creating a big challenge in the investor’s ability to secure financing.

With our Alt-A (just miss) programs, we were able to close a blanket refinance loan based on only the property appraisals. The rate was then adjusted accordingly to account for the lender’s risk. This was a no-document loan — all that was required was appraised value of properties, good credit, and personal financial statement, not cash-flow. This proved to be another ComCapFL success in finding a solution for an unusual loan!

(And we financed this one twice!)

Archive, Commercial Real Estate, Refinance

$1,250,000 CRE Refinance – Gas Station/C-Store

West Palm Beach, FL

Financing a gas station is tricky: it’s part business, part commercial property. Typically, banks don’t like working with gas stations because of the business risks, hazards and the potential for land contamination. This particular gas station and convenience store was having a difficult time with the bank as its loans were coming due.

However, since this was a nice property, we were able to use the value of the land and buildings to secure a fixed-rate, prime conventional refinance. The gas station owner was very happy that he was able to bypass the bank and still get a cheaper, low-rate, long-term amortizing loan.

Archive, Commercial Real Estate, Refinance

$984,000 – CRE Cash-Out Blanket Refi – Multiple MF

Riviera Beach, FL

What happens when you try to do a cash-out refinance of a five-unit apartment, three quads and four duplexes? Usually, the bank scratches their head and says “no”.

We did a blanket, cash-out refinance loan on all these properties, consolidating them into one convenient payment. No documents, no proof of cash flow — only the property appraisals were needed to solidify this loan. Another commercial real estate investor problem solved by ComCapFL!

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