Premier Tennis Club Refinances Mortgage Debt
Premier Tennis Club Refinances Mortgage Debt
"After unsuccessfully trying several times to refinance our business loans, Mike Hahn and his team at 44 Business Capital got it done. They were all a pleasure to work with, took time to understand our business needs, and worked closely with us throughout the entire process. I highly recommend them."
Bill Kurtain, OwnerWinning Touch Tennis | Allentown, PA
CHALLENGE
The owners of Winning Touch Tennis (WTT) were introduced to 44 Business Capital after numerous attempts at refinancing their mortgage debt which was secured by a former owner's marketable securities. In trying to do the right thing and have this pledgor's collateral released, WTT offered up personal guarantees and commercial real estate to refinance with better terms. However, the local lending market got hung up on the special use nature of a tennis center. Additionally, WTT experienced a drop in business due to COVID-19 and their operations had add backs to cash flow for reinvestments into the business over the years.
Enter 44's Mike Hahn. His team dug in and really got to know the business and understand their model. 44 found the group of owners to be very passionate dedicating their time to the success of WTT with members who loved them and the facility. 44 was able to consolidate three loans over 25 years, releasing the former owner's collateral and putting WTT on a better financial path for continued success.
Enter 44's Mike Hahn. His team dug in and really got to know the business and understand their model. 44 found the group of owners to be very passionate dedicating their time to the success of WTT with members who loved them and the facility. 44 was able to consolidate three loans over 25 years, releasing the former owner's collateral and putting WTT on a better financial path for continued success.
OUR BORROWERS SAY IT BEST
