Commercial Finance Partners recently closed six new SBA 7a facilities totaling $989.4 million.
Highlights of the opportunities are as follows:
- A $3.3 million SBA 7a loan for the acquisition of an e-commerce company by current employees
- A $1.2 million SBA 7a loan for a real estate purchase for a prescription drug wholesaler (100% financing)
- A $980 million SBA 7a loan for a real estate purchase for a media company
- A $1.85 million SBA 7a loan for the purchase of a large piece of equipment and debt refinancing for an environmental contractor
- A $1.65 million SBA 7a loan for the purchase of owner-occupied real estate for a dental facility
- A $1.4 million SBA 7a loan for debt refinancing and equipment purchases for a tissue paper manufacturer
“New government stimulus programs have had a positive affect on SBA 7a applications and approvals,” Darren Palestine, managing partner at Commercial Finance Partners, said. “With the SBA removing the guarantee fee for loans, offering payment forgiveness and increasing the SBA guarantee percentage for lenders, we expect this trend to continue through 2021.”
Commercial Finance Partners provides funding solutions for small to middle market companies seeking non-traditional sources of capital and working capital.