Transaction Overview – Family Restaurant
This borrower had worked hard to build his small family restaurant into a profitable business, but he was shut down at every turn when it came to accessing affordable capital. Most conventional and SBA lenders don’t lend to the restaurant industry because they consider it high risk.
We were pleased to provide this business owner a fully amortizing 25 year mortgage
which on the date of closing had an interest
rate of 6.25%. The 25 year mortgage was based
on the available real estate being used as collateral.
This loan paid off $160,000 of short-term private business loans at interest rates of 17% plus.
We also delivered $50,000 of fresh working capital and another $53,000 for renovations.
SBA 7(a) Loan Program
Continental Finance offers an aggressive SBA loan program priced at a maximum annual interest rate of Prime + 2.75% amortized over 10 years (25 years, if the business has available real estate collateral).
The program features one affordable monthly payment and often no prepayment penalty.
Continental Finance can consolidate a business owner’s expensive debt or merchant cash advances, remedy stifling business issues, provide expansion funds and offer unrestricted working capital to assist with new growth and other business needs.
Continental Finance has few collateral restrictions, will consider any borrower credit, can work with past borrower bankruptcies or foreclosures, and will fund from $100,000 to $5,000,000 in all 50 states.
Closing Highlights:
Family Restaurant
Kentucky
High Interest Rate Loans consolidated
Working capital provided
6.25% rate, 25 yr. term
Monthly payment
Nationwide
Financing from $100K to $5M
No credit score minimum
All industries considered
No collateral required
Contact for more information:
Joel Soforenko
Continental Finance Capital Corporation
Tel: 617-336-3215 x 5
Eml: joel@continental.finance