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Commercial Finance Partners Announces the Closing of 6 New SBA 7a Facilities
February 23, 2021
Source: Commercial Finance Partners
Commercial Finance Partners is pleased to announce the closing of 6 new SBA 7a facilities in 2021. With additional benefits being presented by the SBA, Commercial Finance Partners has seen an uptick in volume for business looking to refinance debt, engage in an acquisition or buyout, purchase real estate, and other capital expenditures. Highlights of the opportunities are below:
• 3.3MM SBA 7a for the acquisition of an e-commerce company by current employees
• 1.2MM SBA 7a for a real estate purchase for a prescription drug wholesaler (100% financing)
• 980M SBA 7a for the real estate purchase for a media company
• 1.85MM SBA 7a for the purchase of a large piece of equipment and debt refinancing for an environmental contractor
• 1.65MM SBA 7a for the purchase of owner-occupied real estate for a dental facility
• 1.4MM SBA 7a 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” commented Darren Palestine, Managing Partner. “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. Through direct lending and partner programs, Commercial Finance Partners is the one-stop shop for any non-bank financing need. Our product offering includes accounts receivable financing, SBA 7a and 504, asset based loans, equipment financing, real estate loans, and other non-traditional loan products to fit almost any small to medium size business financing request.
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