$1.5MM SBA 504 LOAN
The borrower was acquiring real estate for their business and wanted to minimize cash placed into the asset and take advantage of low short term interest rates yet hedge against a future rise. We were able to structure and SBA 504 loan with a LIBOR based 1st TD that is convertible to a fixed interest rate and a fully amortized, fully fixed 20 year 2nd TD funded by the SBA.
“We were referred to Matthew by our Commercial Real Estate Broker who highly recommended his services to arrange financing for our building purchase. We were open to the meeting and decided to give Matthew the opportunity to perform. The most important aspect of the process was to have the entire loan and closing of escrow completed with minimal involvement on my part. I needed to trust that everything would run smoothly and everyone would perform as expected. Matthew demonstrated his experience and banking knowledge by coming through with not only an amazing loan program for us but also handling the closing of the loan by working with title, escrow, the lender, the SBA, the appraiser, the environmental company and my broker so that I didn’t have to get overly involved, even when a few issues came up. If you are a business owner and looking for someone you can trust to carry through your loan process so that you can continue to focus on your business operations I would highly recommend Matthew from Vesa Commercial.”