SECC Closes a $435,000 SBA 7(a) Cash-Out Refinance of a Bar & Restaurant

SECC is pleased to announce the closing of a cash-out refinance of a bar and restaurant located in Ohio. Prior to coming to SECC, the borrower had difficulty procuring financing due to the special-purpose nature of the property as well as its market location. SECC was able to refinance the borrower’s existing first lien and provide working capital at bankable terms. Additionally,¬†SECC utilized an existing appraisal and environmental report, saving the borrower substantial costs and time.