Daily News: February 1, 2019

Commercial Finance Partners Provides $23MM+ in SBA Loans in December 2018

Commercial Finance Partners facilitated over $23 million in 16 SBA loan closings in December 2018.

Some of the transactions included:

  • $4.5 million SBA 7a for a multi-location optometrist office seeking to refinance debt and retire seller notes from previous acquisitions
  • $2.3 million SBA 7a for a construction company seeking to refinance debt and obtain new equipment
  • $5 million SBA 7a for a trucking company seeking to refinance vehicle debt to lower monthly payments and improve cash flow
  • $1.5 million SBA 7a for a dentist office seeking to refinance an existing SBA loan and high interest cash advance debt
  • $860,000 SBA 7a for a restaurant seeking to refinance the real estate owned and refinance other business debt

“The SBA programs have given our clients an opportunity to obtain term debt, with an affordable rate and manageable term,” said Darren Palestine, managing partner at Commercial Finance Partners. “We are also pleased to have set new company records for both dollars funded and loan closings through the SBA programs in a single month.”

Based in Florida, Commercial Finance Partners is a lender and loan packager which provides working capital solutions to small- to middle-market business seeking alternative forms of capital, including asset-based loans, term loans, accounts receivable funding and other non-traditional capital resources. Since 2016, it has facilitated over $122 million in SBA loans for clients and borrowers.