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
Contact one of our experienced Commercial Loan Advisors at (800) 341-6199