Commercial Finance Partners closed five SBA 7a term loans in August for a funding total of $9 million. The requests included debt refinancing, construction financing and working capital. The terms of the loans ranged from 10 to 25 years.
Brief highlights are as follows:
- $650,000 term loan for a car rental service to refinance high interest debt and obtain working capital
- $300,000 term loan for an existing client seeking to purchase a piece of equipment for a new project
- $2.35 million term loan for a trucking company seeking to refinance various loans and leases tied to the owned trucked and trailers
- $2.2 million term loan for an environmental analysis and data collection firm seeking to refinance debt and obtain working capital
- $3.5 million term loan for an equipment manufacturer seeking to pay off merchant cash advances and obtain working capital
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“Providing our borrowers with a low cost, long-term capital option is key to helping our clients grow their businesses and creating long-term client relationships for our firm,” said Darren Palestine, managing partner of Commercial Finance Partners. “
Since 2016, Florida-based Commercial Finance Partners has facilitated more than $50 million in SBA loans for our clients and borrowers.
