- Loan Amount: $850,000
- Term: 30 months
This loan was referred to us by a banker. This experienced convenience store and gas station operator was nearing completion on building out this location with 2 nationally recognized brands along with a carwash. The borrower’s 2nd loan was scheduled to close with SBA funding, but the byzantine rules of the SBA made this more and more unlikely. It was a crucial for us to work together with both the bank in 1st lien position and the borrower to get through all of the hurdles in approving this loan before the long-anticipated grand opening. We had our loan ready to go several weeks ahead of time to give borrowers the required assurances that all of the years of effort they had put into this project would be finalized exactly as planned. We love working with banks!