Commercial Finance Partners originated more than $15 million in new SBA 7a loans during Q2/21. As lending has returned to pre-COVID-19-pandemic levels, Commercial Finance Partners also provided more than $10 million in other lending facilities, including accounts receivable factoring, supply chain financing, term loans and equipment financing.
Some of the highlights include:
- A $5 million A/R factoring line for the acquisition of a technology staffing firm
- A $1.85 million SBA 7a loan for the acquisition of a convenience store and deli
- $300,000 in equipment financing for the acquisition of new trucks for an existing factoring client
- A $1.1 million supply chain financing facility for an importer of garbage cans and accessories
- A $25 million SBA 7a loan for debt refinancing for a chain of restaurants in Louisiana
- A $2 million SBA 7a loan for the acquisition of a bar and grill
- A $1 million A/R factoring line for a healthcare staffing company
“It’s great to see activity to return to 2019 levels again,” Darren Palestine, managing partner at Commercial Finance Partners, said. “We were able to help a variety of businesses through both our direct lending and consulting programs, and we anticipate both the third and fourth quarter to continue to show large growth amongst all programs we offer.”