Recent Closings & Loan Proposals

Aug

18

2015

$400K Insurance Agency 2nd Location Acquisition
Insurance Agency
Aug

18

2015

$400K Insurance Agency 2nd Location Acquisition
Insurance Agency
Loan Terms: $400K INSURANCE AGENCY ACQUISITION 2ND LOCATION, 100% FINANCING, %4.875, 7-YEAR TERM. 2 3.5 YEAR FIXED PERIODS.(FHLLB rate + 3.50%)

Scenario: A successful Insurance Agency Owner was looking to purchase a second location. He already had financing fall through and became frustrated with the process. That's when he decided to contact 1st Commercial Lending and see if there were any financing options he has not yet explored.

Due to the fact that the 1st Location was a captive agency, the owner was having a difficult time getting an SBA loan. He was told that this was his only way to purchase a second agency. He decided to contact 1st Commercial lending anyway.

To his surprise, 1st Commercial got him approved for a Conventional loan at a much better rate then the SBA loan he was denied from. On top of that he was also able to get additional working capital for marketing and transitional purposes.

100% Conventional Insurance Agency 2nd location Financing Structured to include working capital for marketing & future growth.

Loan Closed: 08/18/15

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Jul

14

2015

$674K Insurance Agency Book of Business Acquisition
Insurance Agency
Jul

14

2015

$674K Insurance Agency Book of Business Acquisition
Insurance Agency
Loan Terms: $674K INSURANCE AGENCY BOOK OF BUSINESS ACQUISITION, 100% Financing, 6.0% (PRIME + 2.75), 10-YEAR TERM, 5-Year Fixed Resets at Prime + 2.75%

Scenario: A successful Insurance Agency owner was looking to purchase a second location approximately 5 miles away from his current location. His plan was to purchase the agency and move over their book of business within 90 days of closing. He would keep the one key employee and transitioning her to his current location. He decided to contact 1st Commercial Lending when he heard about our financing options.

The owner already had one thriving agency, which he owned for almost 20 years. The Agency was in his family for over 50 years and this was an important step to keep the growth process continuing. He only had a line-of-credit on his current agency and it made sense to include it in the loan.

1st Commercial lending was able to structure a 100% Financing loan with no pre-payment penalty at an attractive interest rate. The interest rate was locked in for the first 5 years and then will reset one time only for the remaining 5 years.

SBA 7(a) Insurance Agency 2nd location/book-of-business financing structured to include consolidation of his 1st Agency line-of-credit as well.

Loan Closed: 07/14/15

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Jun

29

2015

$740K Insurance Agency 2nd Location Acquisition
Insurance Agency
Jun

29

2015

$740K Insurance Agency 2nd Location Acquisition
Insurance Agency
Loan Terms: $740K INSURANCE AGENCY ACQUISITION 2ND LOCATION, 100% Financing, 5.50% (PRIME + 2.25), 10-YEAR TERM

Scenario: A successful Insurance Agency owner was looking to purchase a second location approximately 40 miles away from his current location. He already had financing fall through one time and became frustrated with the process. He decided to contact 1st Commercial Lending when he heard about our financing options.

The owner already had one thriving agency, which he purchased 8 years ago. He had two years left on his current loan, which was at a high interest rate. He was now looking to expand by acquiring a second location.

1st Commercial lending was able to structure a 100% Financing loan with no pre-payment penalty at an attractive interest rate. The loan on the first Agency was paid off and included in the financing. His new loan payment for both Agencies was not much higher then his original loan for just one Agency.

SBA 7(a) Insurance Agency 2nd location Financing Structured to include consolidation of his 1st Agency loan along with $15K in working capital for marketing & future growth.

Loan Closed: 06/29/15

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Feb

17

2015

$1.2MM Insurance Agency Acquisition
Insurance Agency
Feb

17

2015

$1.2MM Insurance Agency Acquisition
Insurance Agency
Loan Terms: $1.2MM INSURANCE AGENCY ACQUISITION 2ND LOCATION, 100% Financing, 5.25% (PRIME + 2.75), 10-YEAR TERM

Scenario: Scenario:A successful Insurance Agency owner was looking to purchase a second location about 50 miles away from her current location. She contacted 1st Commercial Lending when she heard about our financing options.

The owner already had one thriving agency, which she purchased 7 years ago. She had just paid off her loan and was now looking to expand by acquiring a second location. She was having difficulties finding a competitive loan and the one offer she did receive had a high interest rate.

1st Commercial lending was able to structure a 100% Financing loan with no pre-payment penalty at an attractive interest rate. In this case it was important to the borrower that she could pay-off additional principal with out being subject to any penalties.

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Jan

30

2015

$2.4MM Flagged Hotel Acquisition
Hotel / Motel
Jan

30

2015

$2.4MM Flagged Hotel Acquisition
Hotel / Motel
Loan Terms: $2,050,000 FLAGGED HOTEL ACQUISITION, 5.75% (PRIME + 2.50), 25-YEAR TERM

Scenario: An experienced hotel owner was looking to relocate and purchase a flagged economy class hotel that had recently (past 3 years) been bought out of foreclosure and turned around.

Although the hotel was lacking consistent historical financials, we saw the value in the upward trend and future potential.

Loan Proposal issued for 80% Loan To Value with $60K in working capital and covered closing costs. 5/3/1 3-Year Pre-Pay allows borrower flexibility moving forward.

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Dec

11

2014

$450K Insurance Agency Debt Consolidation
Insurance Agency
Dec

11

2014

$450K Insurance Agency Debt Consolidation
Insurance Agency
Loan Terms: $450K INSURANCE AGENCY DEBT CONSOLIDATION, 6.00% (PRIME + 2.75), 10-YEAR TERM

Scenario: Scenario: A successful insurance agency owner was looking to refinance his current business loan due to the high interest rate. He had purchased the Agency in 2012. The business was very successful but he was looking for ways to increase cash flow.

The owner approached 1st Commercial Lending to consolidate his current loan and a seller note that the he had with the previous owner. Both of his loans had high rates and he wanted to pay off the seller note in full. 1st Commercial lending was able to structure a loan to consolidate both loans along with additional working capital the owner had requested for future marketing. The new monthly payments were over $2,000 less then his current payments.

SBA 7(a) Insurance Agency Financing Structured with $25K in working capital for marketing & future growth.

Loan Proposal Issued: 12/11/14

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Oct

22

2014

$850K Assisted Living Facility Debt Consolidation
Assisted Living Facility
Oct

22

2014

$850K Assisted Living Facility Debt Consolidation
Assisted Living Facility
Loan Terms: $850K ALF DEBT CONSOLIDATION, 6.0% (PRIME + 2.75), 25-YEAR TERM

Scenario: Scenario: An owner of an Assisted Living Facility was in need of s loan to consolidate his current debt as a balloon payment was coming due in 3 months. The owner was also looking for an additional $100K for facility upgrades.

The owner approached 1st Commercial lending to find out about our financing options. The most important thing was that we would need to move as fast as possible as the balloon payment was coming due in 90 days.

1st Commercial lending was able to structure a loan with an attractive interest rate and the deal would be able to close in less then 60 days from the date the proposal was issued.

SBA 7(a) Assisted Living Facility Financing Structured with additional capital for facility upgrades.

Loan Proposal Issued: 10/22/14

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Sep

17

2014

$750K Insurance Agency Acquisition
Insurance Agency
Sep

17

2014

$750K Insurance Agency Acquisition
Insurance Agency
Loan Terms: $750K INSURANCE AGENCY ACQUISITION, 6.00% (PRIME + 2.75), 10-YEAR TERM

Scenario: Scenario: An employee at a successful Insurance Agency was looking to purchase the business from the owner who was getting ready to retire. The employee was having an issue finding financing because of a previous credit issues he had in the past.

The buyer approached 1st Commercial Lending figuring that we would not be able to help him since he was already denied from a different institution. At 1st Commercial we found out the details of the past credit issues and noticed that the buyer has restored his credit. We believed the buyer would make a great owner since he already worked at the business for 3 years and had relationships with many of the clients.

1st Commercial lending was able to structure a loan to purchase the agency along with $50K working capital

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Jul

24

2014

$2.75MM Assisted Living Facility Acquisition
Assisted Living Facility
Jul

24

2014

$2.75MM Assisted Living Facility Acquisition
Assisted Living Facility
Loan Terms: $2.75MM ALF ACQUISITION, 6.0% (PRIME + 2.75), 25-YEAR TERM

Scenario: Scenario: Two Partners were looking to purchase an Assisted Living Facility. One of the partners would manage the facility. They contacted 1st Commercial Lending after finding us online.

These two partners had a great opportunity to purchase a very successful facility with 68 beds and an occupancy rate of over 90%. The one issue was that the two story building needed a new roof. 1st Commercial Lending was able to structure a loan that included enough capital to cover the estimates that the seller had on the roof.

SBA 7(a) Assisted Living Facility Financing Structured with additional capital for the repair of the roof.

Loan Proposal Issued: 7/24/2014

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Jun

19

2014

$950K Multifamily Property Refinance
Multi-Family
Jun

19

2014

$950K Multifamily Property Refinance
Multi-Family
Loan Terms: $950,000 MULTIFAMILY REFI, 4.12%, 5-YR FIXED TERM, 30-YR AMORTIZATION, NO BALLOON

Scenario: An owner of a High End 6-Unit Multifamily Property in Seattle, Washington approached 1st Commercial to structure financing to refinance his current loan, which was ballooning.

Conventional Financing Structured:

Financing structured to refinance current debt at lower interest rate & re-amortize the loan over 30-Years with no balloon.

Loan Proposal Issued: 6/19/2014

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Feb

11

2014

$2.0MM Multifamily Refinance
Multi-Family
Feb

11

2014

$2.0MM Multifamily Refinance
Multi-Family
Loan Terms: $2,000,000 MULTIFAMILY REFI, 4.00%, 10-YR TERM, TWO 5-YEAR FIXED PERIODS, 30-YR AMORTIZATION

Scenario: An owner of a 24-Unit Multifamily Property in Coral Springs, FL approached 1st Commercial to structure financing to take out his seller held note at an aggressive interest rate.

Conventional Financing Structured:

Financing structured to refinance current debt at lower interest rate & re-amortize the loan over 30-Years.

Loan Proposal Issued: 2/11/2014

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Jan

15

2014

$3.4MM Multifamily Property Acquisition
Multi-Family
Jan

15

2014

$3.4MM Multifamily Property Acquisition
Multi-Family
Loan Terms: $3,400,000 MULTIFAMILY ACQUISITION, 5.73%, 10-YR FIXED TERM, 30-YR AMORTIZATION

Scenario: Principal approached 1st Commercial Looking to purchase a 52-unit Apartment Building Complex in Naples, FL. It was a requirement of the principal that the loan not have a balloon payment.

Conventional Loan Structured:

Financing structured to acquire the building with 35% capital injection with a 10-Year Fixed Term and 30-Year Fully Amortized Loan (no balloon).

Closed: 1/15/2014

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Dec

09

2013

$6.5MM Office Building Refinance
Office Building
Dec

09

2013

$6.5MM Office Building Refinance
Office Building
Loan Terms: $6,500,000 OFFICE BLDG. REFINANCE, 4.625%, 5/5 10-YR TERM, 25-YR AMORTIZATION

Scenario: An owner of a 52,120 SF Multi-Tenant Office Building with 84% occupancy was looking to refinance his current loan to secure current market low interest rates.

Conventional Loan Proposal Issued:

Financing structured to refinance the current loan.

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Sep

09

2013

$985K Industrial Warehouse Acquisition
Industrial / Warehouse
Sep

09

2013

$985K Industrial Warehouse Acquisition
Industrial / Warehouse
Loan Terms: $837,250 OWNWER-USER WAREHOUSE ACQUISITION, 4.05%, 5/5/5 15-YR TERM, 20-YR AMORTIZATION

Scenario: A successful Orlando-based distribution company owner needed to expand from a 5,000 sf facility to at a 15,000 sf facility. He approached 1st Commercial looking for conventional financing after being presented with only SBA Options from his local lending institutions.

85% LTV Conventional Loan Proposal Issued:

Financing structured to acquire the building and build-out a refrigeration cooler with 15% capital injection.

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Jul

12

2013

$3.6MM Apartment Building Acquisition
Multi-Family
Jul

12

2013

$3.6MM Apartment Building Acquisition
Multi-Family
Loan Terms: $3,000,000 MULTIFAMILY ACQUISITION, 4.25%, 5/5 10-YR TERM, 30-YR AMORTIZATION

Scenario: Borrower approached 1st Commercial Looking to purchase a two-story 20-unit Apartment Building in the heart of Miami Beach.

Conventional Loan Proposal Issued:

Financing structured to acquire the building with 20% capital injection.

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May

31

2013

$1.12MM Flagged Hotel Acquisition/Turn Around
Hotel / Motel
May

31

2013

$1.12MM Flagged Hotel Acquisition/Turn Around
Hotel / Motel
Loan Terms: $1,120,000 FLAGGED HOTEL ACQUISITION, 5.75% (PRIME + 2.50), 25-YEAR TERM

Scenario: Short Sale Purchase of Ramada Inn in Ocala, FL. The hotel was bought at the height of the market in 2006 for ~$4.5MM.

Money was put into renovations. This large debt load coupled with the economic downturn led to the poor financials and negative cash flows.

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Feb

06

2013

$790,000 Retail/Strip Center Refinance
Retail / Strip Center
Feb

06

2013

$790,000 Retail/Strip Center Refinance
Retail / Strip Center
Loan Terms: $790,000 RETAIL STRIP/CENTER REFI, 5.49%, 10-YR FIXED TERM / 25-YEAR AMORT.

Scenario: 9630 SF Retail/Strip Center

Conventional Loan Proposal Issued:

Financing structured to refinance current debt at lower interest rate & re-amortize the loan over 25-Years.

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Jan

24

2013

$510,000 Retail/Strip Center Refinance
Retail / Strip Center
Jan

24

2013

$510,000 Retail/Strip Center Refinance
Retail / Strip Center
Loan Terms: $510,000 RETAIL STRIP/CENTER REFI, 4.99%, 7-YR FIXED TERM, 25-YR AMORTIZATION

Scenario: 6700 SF Retail/Strip Center

Conventional Loan Proposal Issued:

Financing structured to refinance current debt at lower interest rate & re-amortize the loan over 25-Years.

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Apr

04

2012

$3.9MM ALF Bldg. Cash-Out/Refi
Special Purpose
Apr

04

2012

$3.9MM ALF Bldg. Cash-Out/Refi
Special Purpose
Loan Terms: $3,900,000 ALF CASH-OUT REFINANCE, 5.50%, 10-YR FIXED TERM, 25-YR AMORTIZATION

Scenario: 60,000 SF Assisted Living Facility looking to recapture some of the equity built-up in the real estate.

Conventional Loan Proposal Issued:

Financing structured to take out current debt and cash out $2 Million to principals.

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1st Commercial Lending really came through for us when my sisters and I wanted to open our small business a few years ago. In a time when banking is so volatile, it was nice to know that someone was on our side to work with us in achieving a small business loan. Mike made the grueling process much simpler and fought for us and our goal.

The people at 1st Commercial are not afraid to roll up their sleeves and work hard to help you get the loan that you need."

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