SECC is pleased to announce the closing of an $8.3M bridge loan for the refinance cash-out of a California office building. SECC delivered a 12 month interest only term, a 12% interest rate, 75% LTV and over $1.5M of cash-out.
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SECC Closes an $8,300,000 CA Office Building Refinance Cash-OutNovember 19, 2015
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SECC Closes a $1,435,000 Purchase and Construction Loan Secured by 3 Office CondominiumsNovember 16, 2015
SECC is pleased to announce the closing of a $1,435,000 purchase and construction loan secured by 3 contiguous office condominiums. The borrower required a purchase loan that included over $500,000 of construction, but was not interested in SBA financing. SECC delivered a high LTV conventional loan at a 5.35% rate, fixed for 5 years and amortized over 30. Read full article... |
SECC Averages 6.4 Day Close Time on 5 Most Recent Private Business FundingsNovember 5, 2015
SECC’s Private Business Term and Express programs are fast and efficient vehicles to provide small business owners the capital they need without the headache or long drawn out process that comes with conventional or SBA financing. Our 5 most recent closings exhibit the speed at which we are able to execute these transactions as well as the variety of business types we are able to serve. Read full article... |
SECC Closes a $100,000 Uncollateralized Business Expansion Loan in 14 DaysOctober 8, 2015
SECC is pleased to announce the closing of a $100,000 uncollateralized private business loan made to a Florida based pizzeria. The borrower was seeking quick private capital with no prepayment penalty and an affordable rate. SECC delivered on the borrower’s request, required no real estate collateral and closed fast. Read full article... |
New Technology Disrupts Business as Usual: Scotsman Guide’s October edition features article authored by SECC’s managing director, Noah GraysonOctober 5, 2015
We live in an Amazon.com world. Salesmen can no longer hawk their wares the way they used to, big-box retailers are closing their doors daily, and rising above the competition is all about Google ad-dollar superiority and Yelp reviews. Read full article... |
SECC Closes a $350,000 Private Business Working Capital Loan in 7 DaysOctober 1, 2015
SECC is pleased to announce the closing of a $350,000 private business working capital loan for an insurance brokerage located in PA. The insurance industry is typically restricted for most private business lenders but not for SECC. Not only did we provide a loan for a difficult to finance industry, but we closed a loan with no prepayment penalty, a monthly payment, no real estate collateral and very competitive pricing. Read full article... |
SECC Funds $375,000 Cash-Out Refinance of a 71% Occupied TX Retail Strip MallSeptember 29, 2015
SECC is pleased to announce the closing of a cash-out refinance loan made against a 71% occupied retail strip mall located in Killeen, TX. The borrower was brought to SECC by one of our valued broker partners and seeking a quick stated income loan that would get her the unrestricted cash-out she needed, without the requirement of producing tax returns. Read full article... |
SECC Closes a $340,000 SBA 7(a) Loan at a 6% Rate for Borrowers with Credit in the 500sSeptember 23, 2015
SECC is pleased to announce the closing of a $340,000 cash-out refinance against an owner occupied single tenant office located in Marlton, NJ. The borrowers’ credit had suffered from erroneous reports on their profiles which forced their scores into unbankable territory. Unlike other lenders, SECC was able to use a common sense approach to extend bankable terms to borrowers who rightly deserved them. Read full article... |
SECC Announces a Selection of Recent Small Business Loan ClosingsSeptember 8, 2015
SECC is pleased to announce a selection of recent small business loan closings that demonstrate a growing versatility and dominance in this space. Small business owners need to look no further than SECC where both their private business and SBA business loan needs can be promptly and adeptly met. Read full article... |
SECC Closes $50,000 Private Business Working Capital Loan for FL Based Furniture StoreSeptember 8, 2015
SECC is pleased to announce the closing of a $50,000 working capital loan for a Florida based furniture retailer. SECC structured a competitive and quick private business loan that delivered much needed funds to the borrower without the headache or protracted process that can come with SBA or conventional financing. Read full article... |
SECC Announces the Addition of New Members to its Account Executive TeamAugust 27, 2015
SECC is pleased to announce the addition of six new team members to its Account Executive Team. These individuals bring years of commercial finance experience to SECC. Read full article... |
SECC Closes $100,000 Private Business Term Loan, No Prepay Penalty and a Fixed Monthly PaymentAugust 21, 2015
SECC is pleased to announce the closing of a $100,000 private business term loan. The borrower was seeking a quick and streamlined loan for his profitable interior design and remodel business and wasn’t interested in dealing with the rigors of SBA financing. SECC provided a fast, competitively priced term loan with a fixed monthly payment and no prepayment penalty so the borrower can exit the loan at his convenience. Read full article... |
SECC Announces a Selection of Recent Closings from the Week of August 10th, 2015August 17, 2015
SECC is pleased to announce four recent closings from the week of August 10th, 2015. This selection represents the diversity of SECC’s programs, and it’s drive to provide flexible and expedient programs that put capital in the hands of non-conforming real estate and business owners. Read full article... |
SECC Closes $350,000 Cash-Out Refinance of NOO CondoAugust 13, 2015
SECC is pleased to announce the closing of a $350,000 cash-out refinance loan made against a non-owner occupied residential condo located in Los Angeles, CA. The borrower was looking for a quick, hassle-free, short-term loan that would still offer a competitive rate and the cash-out he needed. SECC was able to provide a 7.75%, interest only loan, fixed for 12 months and close fast. Read full article... |
SECC Funds $354,250 Cash-Out of Free & Clear NOO SFR, 16 Day Loan ClosingAugust 13, 2015
SECC is pleased to announce the funding of a $354,250 cash-out loan made against a free and clear, non-owner occupied single family residence. The borrower had difficulty finding a lender that would provide unrestricted cash-out, offer a no tax return loan and close quickly at competitive terms. SECC stepped up to the plate on all accounts and paid a generous referral fee to our submitting broker. Read full article... |
SECC Closes $100,000 Private Business Term Loan for a New Jersey Based Home Renovation BusinessAugust 11, 2015
SECC is pleased to announce the closing of this $100,000 private business term loan for a home renovation business located in New Jersey. The borrower was looking for quick capital to aid in her business expansion but didn’t want to pay the high interest rates that come with a MCA. In under two weeks SECC was able to close on a 3 year fixed rate term loan at 16.29% and provide a monthly loan payment option that did not require any out-of-pocket costs. Read full article... |
SECC Closes Quick $2K Private Business Express Loan for Ohio Based DaycareAugust 4, 2015
This borrower needed funds fast to assist in the expansion of her daycare to a new location. Since most other private business lenders focus on credit card receivables and this business had none, the borrower was having trouble procuring a loan even at this small size. SECC had no issue with the lack of credit card receipts and quickly provided this loan based on the stand alone cash-flow of the business only. Read full article... |
Gaining on Bridge Lenders: Noah Grayson’s article featured in Scotsman’s Guide August IssueAugust 3, 2015
As the market improves, challengers are giving bridge lenders a run for their money. To stay ahead of the pack, bridge lenders are being forced to lower their interest rates and origination points, loosen documentation requirements and adopt tech-savvy application processes that shorten closing times. Read full article... |
SECC Funds $780,000 Cash-Out of Free and Clear Industrial FacilityJuly 29, 2015
SECC is pleased to announce the funding of a $780,000 cash-out loan made against a free and clear industrial property located in Ohio. The borrower had paid cash for the subject property less than a year ago and sought to recoup his investment. The borrower was unable to provide tax returns, the property was special purpose in nature and the location was less than ideal for most lenders. SECC funded over $720,000 of unrestricted cash-in-hand to the borrower, didn’t require tax returns and paid a generous $23,400 rebate to the submitting broker. Read full article... |
$20,000 Daycare Express Loan Funded in 7 DaysJuly 14, 2015
SECC is pleased to announce the closing of a $20,000 private business loan for a daycare located in Columbus, OH. The borrower needed quick funds to assist in the expansion of her business and had difficulty qualifying for bankable financing. SECC was able to provide a fast closing, flexible loan term and unrestricted capital. Read full article... |
SECC Funds $115,000 Interest Only, NOO 2 Family Cash-Out RefinanceJuly 8, 2015
SECC is pleased to announce the closing of this $115,000 cash-out refinance loan made against a non-owner occupied two family property located in Staten Island, NY. The borrower sought a loan that would close fast, have no prepayment penalty and give her the unrestricted cash she needed to invest in other real estate. SECC was able to offer a creative financing structure and meet the borrower’s expectations. Read full article... |
SECC Closes $50,000 Express Loan in 2 DaysJune 30, 2015
This was SECC’s broker partner’s first private business loan. He had heard about SECC’s program and the huge rebates SECC pays and decided to start originating private business loans as part of his business model. Within one week he found a lead and brought it to SECC. SECC flew through the process to close the loan in two days and paid out a massive $3,000 (6%) rebate on this small loan. Read full article... |
SECC Closes $1,166,000 SBA 7(a) Auto-Service PurchaseJune 29, 2015
We are pleased to announce the closing of a $1,166,000 SBA 7(a) purchase loan. The proceeds were used by the borrower to acquire a vacant 11,000 square foot building to be converted into an auto-service facility. SECC provided a 90% loan-to-value enabling the borrower to save his liquidity to assist in the relocation of his business. Read full article... |
SECC Funds $450,000 Stated Auto-Service Cash-Out RefinanceJune 25, 2015
When this borrower came to SECC he had been turned down by numerous other lenders. The property type, the subject property payment history, an existing tax lien as well as the need for a stated loan were all deterrents for other lenders to proceed. SECC was able to underwrite without tax returns, provide a new permanent mortgage at a favorable rate and fund unrestricted cash-in-hand at closing. Read full article... |
Restaurant Express Loan Funded With $40K Tax Lien in PlaceJune 23, 2015
This borrower came to SECC with the urgent need to take advantage of an inventory discount that was about to expire. Other lenders considered this loan request too small and the borrower’s 580 credit score and $40K tax lien deal killers. SECC was able to quickly work through these hurdles to provide the funds the borrower needed. Read full article... |
SECC Funds Cuyahoga County $102,700 Stated Cash-Out RefinanceJune 22, 2015
Many lenders shy away from the Cuyahoga County, OH market due to the perception of its current economic state and associated lending risk. SECC was able to work through this common deterrent that stifles other lenders to quickly fund $102,700 against this non-owner occupied 3 family property. Read full article... |
SECC Pays 3% Broker Fee on $80,500 NOO 3 Family FundingJune 18, 2015
SECC funded a 70% LTV, $80,500 unrestricted cash-out loan on a non-owner occupied three family property located in Newark, NJ. Many lenders were uncomfortable with the market, the pure cash-out request, and the fact that the borrower was seeking a no tax return loan, but not SECC. SECC was able to provide aggressive terms and compensation to its broker partner, why fully meeting the borrower’s expectations. Read full article... |
SECC Gives New Business Jump StartJune 17, 2015
When this borrower came to SECC he had been turned down by numerous lenders for myriad reasons: The loan request was too small, his credit scores were in the 500s, construction industry, home based business, business operation of less than one year, number of NSFs, no filed business tax return and revenue of around $100,000. Read full article... |
SECC Closes a $435,000 SBA 7(a) Cash-Out Refinance of a Bar & RestaurantMay 28, 2015
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. Read full article... |
SECC Pays 6% Rebate on $25,000 Express Loan ClosingMay 14, 2015
SECC is pleased to announce the closing of a $25,000 working capital loan under it’s Private Business Express Program. This was an unsecured business loan provided to a motel operator located in North Carolina. SECC was able to approve the loan within 48 hours and offer an interest rate significantly less expensive than the merchant cash advances (MCAs) and credit cards many business owners use to finance their operations. Read full article... |