Online lending M&A is under way. PayPal is bolstering its merchant lending capabilities with the addition of Swift Financial. While the deal was kept under wraps, some industry participants heard some buzz about a possible combination.

This borrower required short-term financing to complete $300,000 of tenant improvements to increase the occupancy of his 70% occupied office building. He was also looking for over $500K of unrestricted cash-out for a time sensitive investment in other real estate. The low property occupancy eliminated him from conventional and non-conforming financing, and he needed a quick and easy bridge financing program to close fast!

We funded this stated income loan (no tax returns) for this 100% owner occupied, 32,822 sq. ft. Ohio industrial facility. We refinanced both a first and second mortgage, paid large tax and insurance bills that were coming due and provided $128,000 of unrestricted cash-out. This property is located in a small, rust belt town of less than 18,000 people.

We funded this stated income loan (no tax returns) for a 5 unit CA multifamily property in 32 days. We refinanced a $110,000 first mortgage, paid off $88,000 of delinquent real estate taxes and delivered over $240,000 of unrestricted cash-out.

We used our special, full documentation CA loan program to refinance this conventional borrower at a lower rate. He had difficulty finding a CA lender that would offer him bankable terms for his two property blanket loan request, which most lenders consider an un-bankable request.

We are pleased to announce that we’ve just funded $176,000 for the unrestricted cash-out refinance of a 6 unit multifamily property located in Norwich, CT. The borrower wanted a simple, light documentation loan process with competitive terms, but needed an 80% LTV. 

We consolidated 4 merchant cash advance (MCA) positions for this business reducing its approximate monthly debt expense from $49,598 to $5,759. We also provided $80,000 of unrestricted working capital and $240,000 for the purchase of new machinery and equipment. We delivered a 7% APR, amortized over 10 years and with no prepayment penalty.

We are pleased to announce that we’ve just closed a $730,000 purchase loan blanketing 2 non-contiguous investment retail stores. Prior to coming to South End Capital, this borrower had difficulty finding a lender that would blanket commercial property and provide competitive terms.

We consolidated over 7 debt and MCA positions for this business, including an 84%, 145% and 165% APR merchant cash advance (MCA). We also provided $73,000 of unrestricted working capital. We delivered a 6.75% APR loan, amortized over 10 years with no prepay penalty. We reduced this borrower’s monthly debt expense by $17,302!

We are pleased to announce that we’ve just closed a $900,000 cash-out refinance of an assisted living facility located in Redwood City, CA.We offer small balance commercial financing nationwide but in CA we can provide special bankable terms on a variety of property types (even special purpose ) up to $10,000,000.

We are pleased to announce that we’ve just funded $423,750 for the purchase of this office property located in Worcester, MA. The borrower couldn’t provide tax returns and needed a 75% LTV. Other stated commercial real estate lenders cap property LTVs at 70%, but we can fund up to 80% LTV and offer lower rates on longer fixed periods.

$432,000 was funded for renovations with the balance for working capital and closing costs. We provided a 6.75% rate amortized over 25 years. This is what our borrowers had to say…

We are thrilled to have helped another non-conforming small business owner (620 credit score in this case) refinance suffocating debt. We consolidated over $550K of debt, including a pricey first mortgage and a 23% term loan. Additionally, we provided working capital and financed all closing costs. This loan was funded at 6.75% and amortized over 25 years.

We are pleased to announce that we’ve just funded $645,000 for the purchase of this investment 3-family residential property located in Jamaica, NY. The borrower couldn’t provide tax returns and needed a 75% LTV, which was not a problem for our flexible Small Balance Commercial program.

This business loan consolidated $466,200 of expensive debt and MCAs that were siphoning cash-flow. $65,000 was also funded for closing costs and working capital. This loan was secured by the business with no 1st mortgage on any real estate. The borrower received a 6.75% rate, a monthly payment, no prepay penalty and a 10 year amortization.

We are pleased to announced that we’ve just funded $750,000 to refinance the 1st mortgage of this restaurant and liquor store property. We also provided $354,000 of unrestricted cash-out, didn’t require tax returns and closed in just over 30 days! The borrower had a 654 middle credit score and couldn’t provide tax returns which was not a problem for our flexible Small Balance Commercial program.

Finding a lender who finances land contracts isn’t always the easiest thing. Then add in a rural, industrial subject property located in a town of 3,000 people, and you’ve got a tough loan to fund.

Most people would think that a borrower with a 617 credit score, a history of mortgage late payments, judgments, tax liens and charge-offs would only have been eligible for an expensive term loan or merchant cash advance (MCA), right? Wrong!

Most regional and national lenders are still unwilling to lend in Detroit, Michigan–but not SECC! Not only did we provide this borrower a loan to buy this liquor store, but we gave him 90% LTV financing and $28,000 of unrestricted working capital.

This was another opportunity for South End Capital to help a business consolidate high interest merchant cash advances (MCAs) and debt, access unrestricted working capital and buy brand new equipment to assist with expansion.

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.