Retail Franchise Chain Store
Loan Amount
$1,170,000
Loan Type
SBA 7a loanLoan Term
25 yearsReferral Source
Freeman Lundt previous client
Summary
Find a loan quickly to purchase a building for a franchise retail store.
Subject
The business owner made an offer to purchase a building but couldn't find a lender to help finance it, and his contract to purchase had nearly expired.
Challenge
The business owner needed to have a spouse on the loan to get the deal to cash flow, but the spouse had a sub-par credit score, which led lenders to reject the loan when the owner would try to apply himself.
Outcome
Within ten days of the initial call, Freeman Lundt got the business owner approved with a loan and had his spouse on the loan, too. Plus, we obtained 100% financing when other lenders told the business owner he'd have to put at least 20% down. And we didn’t stop there. We also secured an additional $50,000 in working capital.
