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. 

This transportation company needed to consolidate high interest rate debt and payoff vehicle notes that were coming due on a substantial portion of its fleet. Since there was no real estate collateral available and the loan size was less than $350,000, other SBA lenders passed.

This successful medical practice had significant back income taxes from prior recession years that were stifling its cash-flow. Using our highly flexible SBA Unrestricted Program, SECC was able to pay off over $300,000 of back taxes.

SECC was able to consolidate the MCAs and other business debt saving the borrower over $20,000 a month. We also provided fresh working capital, a fully amortizing 10 year loan, a 6.25% rate and no prepayment penalty.

South End Capital Corporation (SECC) announced today that it is expanding its outreach to small business owners who are burdened by expensive merchant cash advances. SECC is one of the few industry lenders aggressively offering affordable Merchant Cash Advance Consolidation Loans to small business owners.

This business, a prominent Florida based marketing company was in need of quick working capital to meet expansion needs. The lack of hard collateral and 2 years of consecutive losses made bankable or SBA financing impossible.

Trucking is considered a high risk industry by most lenders. Additionally, this borrower only owns one truck which greatly increases the chances of default should that truck breakdown. The fact that this business is a sole proprietorship and not a corporation, was a non-starter for most lenders.