Consolidating a business’s debt is one of the things we do best. This company, a successful office technology distributor, had accumulated multiple debt positions in order to maintain its growth trajectory. The business was desirous of consolidating its debt, but its commercial real estate collateral was worth about $600,000 and it needed a much larger loan than that.

We consolidated all 15 of the business’s debt and advance positions at 6.5% APR, and amortized the loan over 13 years into one monthly payment of $47,559 (more than half of the business’s previous monthly debt expense!). We also provided the borrowers over $591,000 of unrestricted working capital.

This borrower operated a successful legal practice but couldn’t locate bridge financing because most lenders won’t finance attorneys (an expensive daily ACH was out of the question and he didn’t have time to wait for an SBA loan).

Creative business financing is what we do here at SECC! This borrower sought to purchase an automotive service business, real estate, equipment, machinery and receive working capital totaling over $1,600,000. The problem was that the borrower only had $84,500 of cash to inject into the transaction (about 5%).

During the Great Recession, lenders were burned on hundreds of millions of dollars in loans that were poorly or even fraudulently originated by amateur commercial mortgage brokers looking to make a quick buck.

South End Capital is pleased to announce the release of its Small Balance Commercial program, continuing its mission of providing bankable terms to unbankable borrowers. The new program offers rates as low as 6% for borrowers with credit down to 620, and secured by the following property: Multifamily, mixed-use, office, retail, warehouse, industrial, mobile home park, automotive service, self storage, daycare and investment residential.

Here at SECC we’re problem solvers, we evaluate the need not just the application! This borrower was under contract to purchase an industrial warehouse space for his automotive business but only had 10% down.

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 hotel ownership experience or other real estate (not even his primary residence was owned).

Shell gas stations are next to impossible to finance via the SBA because of the prohibitive deed restrictions usually in place. These borrowers not only couldn’t go SBA, but also wanted bankable terms and almost $500,000 of unrestricted cash-out! Fortunately, South End Capital offers a full documentation loan program in California for non-conforming borrowers and property types. We closed this loan at a 5.75% rate, fixed for 5 years and amortized over 30 years.

How do you get a loan if you’re only in business 3 months out of the year? You come to SECC! Not only could this borrower not get a loan from a bank, but private term lenders and even merchant cash advance funders turned him down because of the seasonality of his business.

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.

Earlier in the year this borrower needed $122,100 of quick working capital and didn’t have time to wait for an SBA loan. We provided his business working capital in a matter of days, and when he was ready, started him on the SBA takeout loan process.

“Our new automated pre-approval process has drastically reduced application turn times and greatly improved customer communication. Clients can now confidently expect their eligible transaction will receive a letter of interest within 24 to 72 hours.” – Noah Grayson, Managing Director

This borrower was rejected by 50+ lenders over 2 years. During that time he had property foreclosed, filed bankruptcy, had $1 million+ of judgments levied against him and his credit dropped to 493. No lender was interested in refinancing this rural, aged park, or a borrower with this many issues.

SECC will consider business financing requests of any size and we were pleased to provide this business with the working capital it needed. We underwrote this transaction on bank statements only and closed quickly.