Updated about 1 year ago on .
Bridge Financing Success: Supporting a Long-Time Business Owner
Commercial Capital's client, a seasoned business owner with over 40 years in manufacturing outside of a major metropolitan area, found themselves in a difficult financial position. With $2.2 million still owed on their building and their most recent business tax return showing a net loss of $799,000, securing traditional bank financing was impossible. To make matters more pressing, the note on their property was coming due, and while the building was valued around $20 million, time was not on their side.
The owner engaged Commercial Capital to help him. Despite the uphill battle of wanting bank rates and terms, we worked diligently to secure the necessary bridge financing. It wasn’t easy, but we guided the client through every step of the process. In the end, we secured a 24-month loan at a 9% rate, with an interest payment that included both taxes and insurance. Although the journey was tough, the client ultimately thanked us for helping them navigate a challenging situation and get the deal across the finish line.
Karen Schimpf
Commercial Capital, Ltd.
O: 512-358-1511
w: www.linkedin.com/in/karenschimpf/
blog: http://bizloansconnections.com/
website: http://applycommercialloans.com
P.S. We recently helped a trucking company that needed to close on an SBA loan but had a tight deadline of under 30 days. They wanted to close quickly on an acquisition of real estate for their business but couldn't wait for the usual SBA loan processing time. We stepped in and provided a bridge loan acquisition real estate loan, ensuring they closed on time. If you need to close fast on an SBA acquisition of real estate, give us a call at 512-358-1511!
Give me a call today at 512-358-1511 or go here to get started: https://applycommercialloans.com/apply-now/