Commerical Loan Details


Date: February 17, 2015
Title: $1.2MM Insurance Agency Acquisition
Practice Type: 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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