South End Capital Closes $1,207,000 SBA 7(a) Refinance of a Waterfront Resort

SECC closed an SBA 7(a) loan secured by an unflagged resort located in Washington State. The borrowers previously had difficulty procuring bankable financing due to the special-purpose nature of the property type and their need for working capable. SECC provided a 6% rate amortized over 25 years, refinanced an existing mortgage and provided $75,000 of cash at closing.