A wonderful business broker that we work with sent us this loan, which spent NINE MONTHS trying to find a home amongst multiple lenders. An employee was attempting to purchase a successful charter boat business with its own boats, real estate, docks and boat slips in prime Fort Lauderdale. He was flush with experience… but tight on cash. Because of the challenges of the deal, these lenders tried to arrange the transaction, but no one could get it done. The broker was about to drop the deal — until he ran it by us.
Despite all of the challenges, we were able to secure the buyer a commitment letter within 45 days. We worked with the seller to arrange a combination asset purchase, including stock and cash. As specialists in SBA loans, we were also able to restructure the transaction to comply with SBA loan parameters, securing the best terms possible for our buyer by using a maximum $5 million SBA 7a loan.
What was the big takeaway? Since the buyer was an employee, he carried less risk because he already had experience in the business model and a better chance at success. Even though most underwriters would agree that the buyer didn’t have sufficient liquidity. In this case, they were afforded special consideration.
Bottom line: we connected the dots in ways that the other banks and lenders could not. Where they saw a wall, we found the ladder and got the loan across the finish line. Whether it’s a loan in the hundreds of thousands to the tens of millions — if there is a solution to be found, we will find it and close your loan with the best rates and terms possible (along with our white glove customer service!)
To get started, submit your loan today through our fast, no-document Loan Finder tool or simply call us at (888) 959-1648. Remember, there’s no risk or obligation to explore your options.
These clients were in need of somewhat quick purchase of a good-looking retail strip mall, but were mainly looking for aggressive rates. We accepted the challenge – and found the right program for them based off their strengths and weaknesses on the deal. In the end, we were able to secure them a 4.5% rate on this deal!
As always, we caution our clients to look at the big picture, and not just focus on the rates. There is always a strategy to fit your requirements, and our loan specialists at Commercial Capital Ltd, FL have the experience and background to help you analyze all of the variables and help your business come out stronger with the best loan possible. If you would like to explore your options today and discuss your strategy with a commercial loan specialist, try our fast no-document Loan Finder App or give us a call at (888)959-1648.
Typically, we do not do residential deals unless it is a portfolio or subdivision development consisting of more than five homes in the deal. However, this deal had several homes being developed in a great area! The client had already finished the horizontal infrastructure on the property and just needed additional capital to go vertical and complete the project.
Thanks to the collateral and experience of the borrower, we were able to get the deal done. If you have a portfolio or subdivision development deal, just give us a call at (888)959-1648 or send us the details through our fast Loan Finder App to run the deal by us!
This borrower owned a daycare and saw an opportunity to buy another daycare that she knew was being poorly run. Upon expressing interest to purchase the daycare, the seller agreed to give her the business essentially for free, leaving her to purchase the property for just $750,000. Upon examining her file, things looked great for SBA – we saw she had the experience, good credit (700+), and cash to put down.
Normally, this would be a strong SBA deal. However, she had tried several SBA lenders and they all denied her because she did not have two (2) years of tax returns on her current daycare. (The borrower had just started her daycare in 2020, right before COVID-19 hit. The business not only survived – but her 2021 numbers were great.)
This was a huge issue – SHE DID NOT HAVE TIME TO FILE THE 2021 RETURNS AND CLOSE QUICK ENOUGH FOR THE SELLER. Hence, she needed private money, fast. Enter…our private fund.
Her loan request came in at the beginning of February, and we needed to close by the 25th for the borrower to file for a necessary grant by the deadline of the 28th. This meant that we had three (3) weeks to close.
She had everything you want in a loan – low LTV, great credit, and good cash flow. Once she files her returns, it will be an easy refinance-to-SBA, which we will also facilitate for her (we underwrote the exit strategy beforehand and will help her with the refinance.)
We got all the third party’s approvals back, everything checked out, and were able to close it in the three (3) week timeframe. Now, this borrower is expanding her business, and because our payments are interest only, she can afford the low payments. Realtors win, seller gets what they want and our borrower is happy – and now hard at work building her daycare “empire”.
If you need money fast, and just miss qualifying for SBA or conventional, give us a call at (888)959-1648 or submit your deal through our fast Loan Finder App today.
This husband-and-wife doctor duo needed a loan to purchase and renovate their dream office. The purchase price was $1 million, and renovations totaled $495,000. Once we rolled in the closing costs, working capital and cost overruns, the final loan amount was $1,443,200.
What made this file even more complicated was that the doctors were also diverse in their business holdings. Each doctor owned multiple entities, which meant that their submission file was quite large – but we were able to get the deal done! We are the SBA experts, and know exactly how to manage large files and identify any issues before closing – saving you time, and getting your loan issued faster.
If you have a deal like this, explore your options by using our fast, no document Loan Finder App, or give us a call at (888) 959-1648.