We provided this dental practice $3.5M to purchase $2.245M of real estate for expansion, consolidate $280K of MCAs, $200K for equipment and $775K for working capital and renovations. The borrower had ZERO cash injection, we financed 90% on the real estate and allowed the seller to hold a 10% second mortgage for the down payment. Our new loan reduced over $50K in monthly debt expense down to just under $2K a month!
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South End Capital Closes a $3,500,000 Office Purchase and MCA Consolidation Loan for an NC Dental PracticeOctober 17, 2017
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South End Capital Closes a $2,016,000 Purchase Bridge Loan for an Indoor Trampoline Park in IllinoisOctober 12, 2017
This borrower owned multiple indoor trampoline parks in the IL area and was under contract to purchase this additional location. Because of the special-use nature of this property, its size (40,000+ sq. ft.), its occupancy (only 37.5%), its renovation needs ($1M) and its proximity to a major city (77 miles),other lenders would not provide this successful business owner the financing she needed to expand. Read full article... |
South End Capital Hits $22M in MCA Consolidation and Expansion Loans in Q3October 11, 2017
South End Capital Corporation (SECC), named “Best” and one of “Top Ten Best” hard-money / bridge lenders in the US, respectively, by fitsmallbusiness.com and toptenreviews.com, announced today that is has reached a significant milestone in its effort to unburden small business owners encumbered by prohibitive merchant cash advances. Read full article... |
South End Capital Closes SBA Flex Loans Totaling $4,660,000 Providing Consolidation and Expansion Funds for 4 Growing BusinessesOctober 3, 2017
We provided this Akron, OH business $1,926,278 to refinance its existing mortgages on its heavy industrial property. We also paid off almost $375,000 of expensive MCAs and provided $80,000 of working capital. Our loan reduced this business’s monthly debt from $54,207 to $17,669. We delivered a 7% APR amortized over 25 years and the referring broker earned a $12,500 referral fee. Read full article... |
South End Capital Announces Significant Enhancements to its Core Product LinesSeptember 27, 2017
We have significantly expanded our program offerings and have outlined these important changes below. Please read this email in its entirety and don’t hesitate to contact us if you have any questions. Read full article... |
South End Capital Closes SBA Flex Loans Totaling $2,007,000, Providing Consolidation and Expansion Funds for 3 Growing BusinessesSeptember 20, 2017
We provided this Kissimmee, FL business $965,000 to purchase real estate to meet the demands of its swelling daycare enrollment. Additionally, we included $71,000 for equipment, $9,000 for furniture and fixtures and $426,000 of unrestricted working capital! We delivered a 7% APR, amortized over 25 years with a 5%, 3%, 1% prepay penalty. Read full article... |
Noah Grayson, Managing Director of South End Capital, Talks to Fit Small Business About Buying vs. Leasing Commercial Real EstateSeptember 6, 2017
If your business has stable and recurring revenue, sufficient cash for a down payment plus six months of reserves, it makes sense to purchase commercial real estate. This is because a monthly mortgage payment is typically less than a monthly lease payment, meaning that buying commercial real estate saves you money over time. Further, owning commercial real estate gives you a large asset to leverage for future business needs. Read full article... |
South End Capital Closes a $400,000 Merchant Cash Advance (MCA) Consolidation and Working Capital Loan for a Michigan Trucking CompanySeptember 5, 2017
We’ve provided another MCA consolidation loan to a Michigan industry not favored by most lenders (and for a borrower with a 620 credit score). We paid off 9 MCAs / debt positions saving this business over $10K a month! Read full article... |
TopTenReviews.com Selects South End Capital as one of the “Top Ten” Best Bridge Lenders nationwideAugust 29, 2017
TopTenReviews.com, a prominent product and service review website receiving over 3.7 million visitors monthly, has selected South End Capital as one of the “Top Ten” Best Bridge Lenders nationwide. Read full article... |
South End Capital Closes an $825,000, 7% APR, Working Capital and Expansion Loan for a Popular NJ RestaurantAugust 28, 2017
Most lenders shy away from restaurants but not South End Capital. We provided this business owner $396K of unrestricted working capital, $165K for new equipment, $125K for new furniture and fixtures and $136K for leasehold improvements. All closing costs were financed and we delivered a 7% APR, amortized over 10 years and with no prepayment penalty. Read full article... |
FitSmallBusiness.com names South End Capital its “Preferred Business Acquisition Loan Provider” in a Recent Article Titled: How to Value a BusinessAugust 22, 2017
A business valuation is a calculation of what a business could potentially sell for. It factors in the seller’s discretionary earnings with a multiplier that varies by industry, both tangible and intangible assets, and the business’s current liabilities. A true business valuation can be used to negotiate a price during the sale of a business. Read full article... |
Noah Grayson Interviewed by deBanked About MCA Broker /ISO Exodus to Commercial Real Estate and SBA FinancingAugust 17, 2017
“We’ve noticed a large number of brokers signing up with us are coming over from the MCA space. They’ve relayed to our staff that competition is too stiff to make enough money only originating MCAs, and they are looking for other avenues to bring in revenue,” Grayson said. Read full article... |
Noah Grayson, Managing Director of South End Capital Corporation, weighs in to deBanked about today’s announcement that PayPal has acquired Swift FinancialAugust 10, 2017
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. Read full article... |
South End Capital Closes a $2,475,000 Bridge Loan Secured by a 70% Occupied FL Office BuildingAugust 8, 2017
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! Read full article... |
South End Capital Funds a Stated Income $925,000 Unrestricted Cash-Out Refinance Loan, Secured by a Large Industrial Facility Located in a Small, Rust Belt, OH TownJuly 31, 2017
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. Read full article... |
South End Capital Funds a $470,000 Stated Income, 5 Unit Multifamily Cash-Out Refinance Loan, Pays off $88K of Back Real Estate Taxes at CloseJuly 26, 2017
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. Read full article... |
South End Capital Recent Closings – 5.95% Rate Blanket Loan, LOC, MCA Consolidation & More!July 13, 2017
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. Read full article... |
South End Capital Funds an 80% LTV, Unrestricted Cash-Out Refinance Loan Secured by a 6 Unit Multifamily PropertyJune 26, 2017
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. Read full article... |
South End Capital Closes a $496,000 MCA Consolidation Loan, Reducing this Business’s Monthly Debt Expense by Almost $44,000June 22, 2017
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. Read full article... |
South End Capital Closes a $730,000 Purchase Loan Secured by 2 Non-Contiguous Investment Retail Stores – Provides a 5.95% RateJune 21, 2017
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. Read full article... |
South End Capital Consolidates an 84%, 145% and 165% APR Merchant Cash Advance (MCA) at 6.75%June 19, 2017
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! Read full article... |
South End Capital Closes a $900,000 Assisted Living Facility Cash-Out Refinance, Provides a 5% Interest RateJune 13, 2017
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. Read full article... |
South End Capital Funds a $423,750 Stated Income Office Purchase Loan at 75% LTVJune 8, 2017
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. Read full article... |
South End Capital Closes a $464,000 Historic Inn Renovation Loan and a $317,500 Office / Land LoanJune 1, 2017
$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… Read full article... |
South End Capital Closes a $587,000 Debt Consolidation and Working Capital Loan for a Neighborhood Bike ShopMay 24, 2017
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. Read full article... |
South End Capital Closes a $645,000, 75% LTV No Tax Return, Purchase Loan for a 3-Family Investment Residential PropertyMay 23, 2017
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. Read full article... |
South End Capital Closes a $531,200 MCA Consolidation Loan and a $250,000 Restaurant Asset Purchase / Expansion LoanMay 17, 2017
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. Read full article... |
South End Capital Funds a $750,000, No Tax Return, Permanent Mortgage Secured by a Restaurant / Liquor Store PropertyMay 4, 2017
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. Read full article... |
South End Capital Closes an $822,000 Rural Land Contract Refinance, Debt Consolidation and Working Capital LoanApril 25, 2017
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. Read full article... |
South End Capital Provides $259,000 of Unrestricted Working Capital, Priced at 6.75% APR, to Restaurant Owner with Low CreditApril 6, 2017
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! Read full article... |