SBA 7a Loan

As a company we like to measure our success by our results. Last week we closed a $2,850,000 loan for a restaurant owner in Colorado. The borrower needed to refinance some existing debt and get cash out to remodel a couple business locations. The owner already had an offer from another lender to finance his request. The borrower let us review his loan package to see if we could be more competitive.

Within two weeks we had 5 additional lenders interested in funding the loan. This gave the owner options and made the lenders compete. Our sources had interest rates that were up to 2.5% less with mild prepayment penalties compared with the existing offer.

The Results:

  • We were able to save the borrower over $75,000 a year in interest expense alone from their existing offer.
  • Negotiated favorable prepayment terms for an easier refinance in the future. (No prepayment fee after the 3rd year.)
  • Caught an error in the loan docs which could have cost the borrower $15,000 a year in interest expense.

This was all provided at a cost of 1% of the loan amount ($28,500). Give us a call today to discuss your unique commercial loan request. We know what it takes to get you to the closing table. We really do work for you. Contact us at sales@hoffmancg.com or the Pre Qualify page of our website.

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