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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.