Hawthorne CA Industrial Acquisition - SBA 7a

Hawthorne
,
CA
90% LTPP
Amount: $
515000
Interest Rate: 
5
%

StackSource recently sourced a SBA 7a acquisition loan for 6,000 square foot industrial property in Hawthorne, CA. The condition of the property called for an additional $100,000 capex business plan to fully renovate and be suitable for our client's business. The small business is a production services company that provides equipment, crew, and services for the entertainment industry. The business's expected income deteriorated due to the pandemic but StackSource's team was able to source a creative SBA lender that could underwrite the historical averages as well as the financial strength of the sponsor. Huber Bongolan worked with a national SBA lender to secure a recourse, 90% Loan-to-Purchase-Price product, with an additional $60,000 for working capital. The loan came with a WSJ Prime +1.75% floating rate amortized for a full 25 years.

Charitable Cause supported by 1% of StackSource's revenue on this transaction:
New York City Relief