Black Fodder Coffee
Black Fodder Coffee, LLC, a Chicago based craft coffee and tea company, was seeking acquisition financing to acquire an owner occupied commercial property in River Forest, IL. The business has seen strong growth in their catering operations and wanted to acquire the property to allow for the continued growth and open a retail store front.
StackSource Director Chris Peters was able to secure acquisition financing from a local bank lender that provided an 80% LTV, 5-year fixed rate loan with a 6.75% interest rate and 25-year amortization. The bank partnered with the Illinois Department of Commerce and Economic Opportunity (ILDCEO), which provides low-interest loans to help support small businesses.