Case Study: Non-SBA Solutions
My clients bought their center several years before and wanted to refi into a fixed rate and pay back some debt owed to shareholders.
An SBA loan would normally meet my clients’ requirements, but it cannot be used to pay shareholders who will remain investors with the company.
We were able to show that there was enough equity and cash flow to allow the bank to use a conventional loan. The bank offered a ten year fixed rate loan with enough to refi all of the existing debt and pay back the shareholders’ debt.