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What’s Closing Now

What's Closing Now

$450,000 – Investor Office Condo Purchase

by Dave Dambro
This young investor wanted to invest in the family business in an unconventional way. He knew one day, he would be given the keys to the 50-year old, family-run insurance business, currently led by his father. As his first investment in his future, he decided to purchase the 2-unit office condo to lease back to the family business until it came time for him to take the reigns. Because it was technically a future owner-occupied business and a Triple-Net (NNN) lease, we were able to secure him a 10/25-yer conventional loan at a great rate of 6.35% – and close the loan in 3 weeks!
The takeaway? We can give special considerations to family members and employees looking for business acquisition loans or commercial real estate transfers. Unlike other banks and lenders, we look at the core of the deal to identify strengths and capitalize on those. If you’re looking to move into the family business or if you are looking to help your boss retire, submit your loan details using 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.
What's Closing Now

$9,000,000 – Charter Boat Business and CRE Purchase

by Dave Dambro

Fort Lauderdale, FL

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.

What's Closing Now

$1,200,000 – Social Services CRE Purchase and Refinance

by Dave Dambro

Melbourne, FL

This business owner ran an adoption agency that helped house families in addition to providing services. For years, she had been putting up her clients in hotel rooms – at a huge annual expense to the business. Luckily, she was able to find a 7-bedroom mixed-use property to alleviate that expense! With tenants in the retail space below, the building helps pay for itself!
In addition to purchasing this loan, the buyer also wanted to refinance her other owner-occupied property at the same time. We were able to do the purchase and a $475,000 refinance using SBA 504 loans (for both, simultaneously!) with 25-year fixed rates under six percent (6%). Now, our success in refinancing and funding the purchase will allow the business to convert its iinvestment and realize an additional six figures in EBIDTA.
Or, as we say – she paid herself to buy the property. This is another example of how owning your own business real estate can significantly increase your business’s profitability!
Want to discuss how we can help you secure an SBA 504 loan? Submit your deal through our risk-free Loan Finder App or give us a call at (888) 959-1648.
What's Closing Now

$475,000 – Medical Office CRE Refinance

by Dave Dambro

Margate, FL

Early in this doctor’s career, he encountered a difficult time in his life that hurt his financial credibility and stability. Not only had he declared bankruptcy, he was also going through a divorce and foreclosure. Years later, when he wanted to purchase commercial real estate for his practice, his only available option was a hard money loan. As many know, hard money loans are a last resort and carry high interest rates that can be detrimental to a growing business.
When the doctor came to us, we took a look at the full picture. He had a stable, cash flowing business; adequate liquidity; and had improved his credit to an impressive level. Due to all of these strengths, we were able to refinance his hard money into an amortizing conventional loan at a much lower fixed rate.
The Takeaway: Just because you have a bankruptcy on your record, it doesn’t mean a loan is totally off the table – the details make all the difference. If you’ve been denied from the bank yet have a strong business and decent credit, Commercial Capital Ltd., FL can find a commercial loan for you. Submit your loan details risk-free for a review via our Loan Finder App or give us a call at (888) 959-1648.
What's Closing Now

$2,475,000 – Acquisition of Retail Strip Mall

by Dave Dambro

Montgomery, AL

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.

 

Commercial Real Estate, Construction, What's Closing Now

$2,415,000 – Residential Subdivision Development

by Dave Dambro

Nampa, Idaho

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!

What's Closing Now

$750,000 – Fast Private Money Loan for Acquisition of Daycare

by Dave Dambro

Las Vegas, NV

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.

SBA, What's Closing Now

$1,495,000 – Acquisition and Rehab of Medical Office

by Dave Dambro

Orlando, FL

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.

Commercial Loan News, Commercial Real Estate, What's Closing Now

$575,000 – ComCap Private Fund – New Construction Rural AirBnB

by Dave Dambro

Rural West Texas

 

This deal needed to close quickly. They were scheduled close on the property on Tuesday, the 5th of July, but had only submitted their loan request to us on July 1st (that’s right, the Friday before the 4th of July!)
Note: A 10-day extension on the closing was possible IF they could get a commitment by the 5th… otherwise, he would lose the property. But thanks to our private fund, we were able to issue the commitment on the 5th and closed their loan the following week.
In addition to the tight schedule, this particular property was a new-construction house and barn on 36 acres in the middle of Nowheresville, West Texas. The city wasn’t even a true city – it was a “community” with no official resident count (by the satellite photos, maybe 50 people in the town?) However, the property was gorgeous and his goal was to use it as a retreat for people through AirBnB. The borrower had experience in this business and the cash to put down — but had no cash flow in his business and of course, no history of cash flow in the property.
With our private fund, we were able to issue the loan at 50% LTV and escrowed six months of payments.
When we have a special-use vacant property located in a rural area or with no cash flow, we send the deal to our private $20 million fund for consideration. To accommodate for the risk, we simply adjust the LTV. We have gone as high as 90% for strong borrowers with SBA takeouts, and as low as 25% for rural vacant land. If you have a deal that has good collateral but needs to close quickly, send us an inquiry through Loan Finder or give us a call at (888) 959-1648.
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