Deals We Have Funded

The following are a list of deals we have closed recently.  Contact us now and let's discuss how we can help you solve your financial challenges and provide the solution you desire.

Dentist purchases a dental lab

Dentist needed to purchase a dental lab. He wanted financing. The lab had let sales fall and so it was somewhat distressed. The owner had just gotten burned out on the business. He had got tired and wanted to retire. So sales slipped 30%. This drop in revenue meant that every bank denied the loan to the doctor. The buyer is not only a dentist, but he has also been in the dental lab business before. The deal was denied under our medical program. But we got it approved on the SBA 7(a) program because of our very close, unique SBA lender relationship. The doctor had good existing income on his practice and good credit. We showed the underwriter that the target acquisition dental lab had enough net operating income to easily handle the loan payments. All this added up to a "yes" when everyone else had said "no." We packaged the deal properly and highlighted the sponsor's track record both in the dental lab business and at his dental practice. $1.2 million deal, 20% down. 5.5% rate, amortized over 10 years. Includes all equipment, and clients, and $75,000 in working capital. Borrower is paying zero .

Apartment building refi in Texas

The borrower had a balloon note that must get paid off. It was a seller financed note and it was a balloon note. The banks turned them down because it is a class C building in a B neighborhood. Lenders do NOT like Class C apartments. Especially if it's under $2 million. We have a Fannie/Freddie program starting at $1 million. And we can package a deal like this one that others are turning down. They are looking at 75% LTV. It will be a 1.25 million loan, with the appraisal coming in around $1.8 million. There is $300,700 net operating income on the property. The sponsor is really under the gun on this one. The KEYS are strong assets, strong sponsor and strong NOI, we can get an agency loan for $1 million and above, while the few lenders out there usually want a minimum of $2 million and often won't do these sorts of deals.

Veterinary clinic equipment and working capital

The vet needed $150,000 for equipment and working capital. The doctor leased a space and financing fell through. A broker let the doctor down. The deal came in and 36 hours later we had the $150,000 equipment and working capital loan. She can furnish her vet clinic and have working capital. She had zero net operating income - but how could we get this funded? The bank required her to work elsewhere part-time so she had clients and revenue as "associate income", which is essentially employee income for a professional such as a vet or a dentist. And she continues to maintain enough money through part time work to pay the loan payments. So she showed the bank that she could generate associate income, and this made the bank comfortable that she could handle the loan payments on this loan, along with her part time income that continues. This example shows why we need both business and personal tax returns for medical professionals. We can see the income history for the medical professional. Often the key to lender approval is using this information.