Joel Soforenko Recent Closing

 

Joel Soforenko Recent Closing

$850,000 MORTAGE REFINANCE & WORKING CAPITAL

Transaction Overview: Gas Station & C-Store

Gas stations and convenience stores are certainly not the preferred property types of most lenders, and certainly not most SBA lenders. At SECC however, our SBA program has no restricted industries or property types (other than those imposed by the SBA).

This borrower needed to pay off her current mortgage and obtain fresh working capital to assist in the expansion of her business, but finding a lender to cooperate was difficult. SECC was glad to be able to refinance her first mortgage, lower her monthly payment and provide her $60,200 of working capital to help jump start her 2017!
We were lucky again to have an excellent referral partner working with us on this transaction to help us get it to the finish line.

SBA Unrestricted Program

SECC offers an aggressive SBA loan program priced at a maximum annual interest rate of 6.25%, amortized over 10 years (25 years, if the business has available real estate collateral). The program features one affordable monthly payment and often no prepayment penalty. SECC can consolidate a business owner’s expensive merchant cash advances or business debt, remedy stifling business issues, provide expansion or purchase funds and offer unrestricted working capital to assist with new growth and other business needs. SECC imposes few business-type restrictions, will consider borrower credit down to 580 (or lower), can work with past borrower bankruptcies or foreclosures, and will fund from $250,000 to $5,000,000 in all 50 states. We only need one year of tax returns to qualify a business and we’ll even consider startups.

Contact Us

Joel Soforenko | CEO
Continental Finance Capital Corp
Main Line:   617-336-3215 x 5
Fax Line:      888-498-0580
Email:           joel@continental.finance
Facebook:    www.facebook.com/SBAWizard

 

Closed Loan – $1,410,000 @ 90% LTV Hotel Purchase & Working Capital

Transaction Overview – Baymont Inn Purchase

When we say our SBA program is unrestricted, we really mean it’s unrestricted! This borrower was under contract to purchase a hotel in Michigan and only had 10% down and no other real estate (not even his primary residence was owned).

He also needed working capital to help ramp up operations and he only had a 638 credit score. Needless to say, this borrower could not find financing anywhere, until…he found South End Capital.

We provided the borrower 90% purchase financing, we financed all the closing costs and gave him an additional $85,000 in working capital. The borrower received a 6.25% rate, amortized over 25 years and the keys to his first hotel!SBA Unrestricted Program

SECC offers an aggressive SBA loan program priced at a maximum annual interest rate of 6.25%, amortized over 10 years (25 years, if the business has available real estate collateral). The program features one affordable monthly payment and often no prepayment penalty. SECC can consolidate a business owner’s expensive merchant cash advances or business debt, remedy stifling business issues, provide expansion or purchase funds and offer unrestricted working capital to assist with new growth and other business needs. SECC imposes few business-type restrictions, will consider borrower credit down to 580 (or lower), can work with past borrower bankruptcies or foreclosures, and will fund from $250,000 to $5,000,000 in all 50 states. We only need one year of tax returns to qualify a business and we’ll even consider startups.

Closing Highlights

Flagged Hotel

Michigan

90% purchase financing
Working capital provided
6.25% rate, 25 yr. term
Monthly payment
638 borrower credit score
Program Highlights

Program Parameters

Nationwide

Financing from $250K to $5MM
Low credit score minimum
Most industries considered
No collateral required
Broker rebate available
Contact: Joel Soforenko
Continental Finance Capital Corp.

(617) 336-3215 x 5 (Office)
(888) 498-0580     (Fax)
joel@continental.finance

$500,000 Restaurant SBA Refinance and Working Capital Loan

South End Capital News

Recent SBA Loan Funding
$500,000 Restaurant Refinance and Working Capital Loan – 6.25% Rate

Transaction Overview – Family Restaurant

This borrower had worked hard to build his small family restaurant into a profitable business, but he was shut down at every turn when it came to accessing affordable capital. Most conventional and SBA lenders don’t lend to the restaurant industry because they consider it high risk.

We were pleased to provide this business owner a fully amortizing 25 year mortgage at 6.25% and pay off $160,000 of short-term private business loans at interest rates of 17% plus.H We also delivered $50,000 of fresh working capital and another $53,000 for renovations.

SBA Unrestricted Program

SECC offers an aggressive SBA loan program priced at a maximum annual interest rate of 6.25%, amortized over 10 years (25 years, if the business has available real estate collateral). The program features one affordable monthly payment and often no prepayment penalty. SECC can consolidate a business owner’s expensive debt or merchant cash advances, remedy stifling business issues, provide expansion funds and offer unrestricted working capital to assist with new growth and other business needs. SECC imposes few business-type restrictions, will consider borrower credit down to 580 (or lower), can work with past borrower bankruptcies or foreclosures, and will fund from $250,000 to $5,000,000 in all 50 states.

Closing Highlights
Family Restaurant
Kentucky
High Interest Rate Loans consolidated
Working capital provided
6.25% rate, 25 yr. term
Monthly payment
$2,500 broker rebate

Nationwide
Financing from $250K to $5MM
Low credit score minimum
All industries considered
No collateral required
Broker rebate available

Joel Soforenko
South End Capital Corp.
Sr VP | Director, Business Lending
Main Line 888-268-7778 x 2
Cell Line 413-348-5604
joel@southendcapital.com