South End Capital Closes a $5,000,000 Subprime SBA Equipment Loan for a Crane Co.

This 7.5% rate, 10 year term loan, had no prepay penalty, consolidated ~$4M of debt, and provided ~$1M for working capital and equipment. There was no real estate collateral except a small 3rd lien filed on the borrower’s home. This business had a $600K+ 2018 loss, and borrower credit was <650.