$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.
