South End Capital Closes $365,000 SBA 7(a) Refinance of a Used Car Dealership in MA
March 18, 2015
SECC provided a $365,000 SBA 7(a) loan secured by a used car dealership located outside of Boston, MA. Historically car dealerships have been a difficult asset class to obtain bankable financing for. The multiple liens required to be filed to secure the real estate and inventory, as well as the volatile nature of the industry leaves most lenders on the sidelines, but not SECC.