$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…
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South End Capital Closes a $464,000 Historic Inn Renovation Loan and a $317,500 Office / Land LoanJune 1, 2017
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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... |
South End Capital Closes a $460,000, 90% LTV Liquor Store Purchase Loan in Detroit, MichiganApril 4, 2017
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. Read full article... |
South End Capital Closes a $942,000 MCA / Debt Consolidation, Working Capital and Equipment Loan for a Trucking CompanyMarch 13, 2017
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. Read full article... |
South End Capital Provides a $1,250,000 Debt Consolidation and Working Capital Loan for an Office Technology DistributorMarch 7, 2017
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. Read full article... |
South End Capital Closes $5,000,000 MCA Consolidation, Debt Refinance and Working Capital Loan for Petroleum CompanyFebruary 28, 2017
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. Read full article... |
South End Capital Provides $500,000 of Unrestricted Working Capital to CA Law Firm in 1 WeekFebruary 27, 2017
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). Read full article... |
SECC Provides 95% CLTV, $1,300,000, Auto-Service Real Estate and Business Purchase LoanFebruary 16, 2017
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%). Read full article... |
Noah Grayson Authors Featured Article for the Scotsman Guide: Brokers Must Have the Right StuffFebruary 3, 2017
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. Read full article... |
South End Capital Announces New Small Balance Commercial Program in Full Page Scotsman Guide AdJanuary 24, 2017
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. Read full article... |
SECC Provides $2,480,000 in SBA 7(a) Loans – Funds Non-Conforming Gas Station, C-Store and Industrial Property Loans at Aggressive TermsDecember 22, 2016
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. Read full article... |
South End Capital Closes a $1,410,000 90% LTV Purchase Loan for a Michigan Flagged HotelDecember 14, 2016
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). Read full article... |
SECC Closes $4.85M of Non-Conforming CA Loans and Provides Bankable Pricing – Gives 5% Rates to Gas Station and Investment Residential Portfolio OwnersDecember 6, 2016
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. Read full article... |
South End Capital Helps Save Christmas by Funding $67,500 of Working Capital to a Christmas Tree Delivery Company – Children Everywhere Rejoice!December 1, 2016
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. Read full article... |
SECC Closes a $500,000 Restaurant Refinance, Working Capital and Debt Consolidation Loan – Reduces Borrower’s Interest from 17% to 6.25%November 28, 2016
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. Read full article... |
SECC Closes a $605,000 Business Only Loan for a Steel Fabrication Company with No Real Estate CollateralNovember 16, 2016
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. Read full article... |
We’ve Brought Automation to Commercial Lending!November 7, 2016
“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 Read full article... |
SECC Highlights 10 Recent Loan Closings You Won’t Believe They Were Able to Fund!November 3, 2016
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. Read full article... |
SECC Funds $6500 of Working Capital Proving Again That Even Very Small Businesses Deserve FinancingOctober 20, 2016
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. Read full article... |
SECC Closes a Small $210,000 SBA Debt Consolidation Loan Without Real Estate CollateralOctober 18, 2016
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. Read full article... |
SECC Closes $1,169,600 Business Expansion and Back Tax Payoff, Provides 6.25% Rate Amortized for 25 YearsOctober 11, 2016
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. Read full article... |
SECC Closes $871,000 Merchant Cash Advance Consolidation Loan Reducing Monthly Business Expenses by $20,000+October 6, 2016
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. Read full article... |
South End Capital Offers Refuge to Small Business Owners Seeking to Consolidate Merchant Cash AdvancesOctober 5, 2016
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. Read full article... |
SECC Funds $150,000 of Working Capital to Un-Bankable Marketing BusinessSeptember 29, 2016
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. Read full article... |
SECC Funds $6,500 of Working Capital to a Trucking Company in 2 DaysSeptember 26, 2016
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. Read full article... |