Equipment Cash Out Refinance
Paper Company– $650,000 - A Company with existing truck loans wanted to refinance their debt and also obtain $200,000 in working capital. Their current Bank did not like the collateral and passed on the deal. The Business owner’s friend, who is a Commercial Lender, referred him to us. Although local Banks that we contacted passed on the deal, we did find an out of state SBA Lender who approved this SBA loan at a rate of Prime +2.25%.