Real Estate and Business Acquisition of Montessori Schools with $1.7 MM Loan
Real Estate and Business Acquisition of Montessori Schools with $1.7 MM Loan
“I was extremely pleased with the SBA financing process through 44 Business Capital. They were able to offer loan product information that I was not able to find through any other lender. The underwriting process was straightforward and the final terms/rate were extremely competitive. 44 Business Capital was able and willing to accommodate our unique ownership structure which allowed us various advantages. I would, without hesitation, use Joe Dreyer and his team for any future financing transactions.”
Gary A. Madia, Managing DirectorDebt Capital Markets Gleacher & Co.
CHALLENGE
The borrower needed $1,770,000 to purchase two school locations along with the business assets. The loan was not fully collateralized by real estate and so the borrower had difficulty finding financing. The borrower also wanted two different real estate holding partnerships, so 44 Business Capital was able to arrange two SBA 7a loans, each for $885,000 to accommodate the borrower's need. The historical cash flow was excellent so the SBA guaranty mitigated the minimal collateral shortfall.
