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Another Done Deal - The Details

$2.775,000 SBA 7(a) Loan Closed And Funded

J T Wojtowicz : Posted on Monday, November 21, 2011 12:05 PM

BizLoanFunding is pleased to announce that we recently closed a $2,775,000 SBA 7(a) loan to a precision machine shop located in northeast Ohio.

The financing package benefits the small business by reducing monthly debt service by 52% and provides permanent working capital to create additional employment opportunities.

In addition to the SBA 7(a) loan, BizLoanFunding also arranged a conventional $750,000 working capital line-of-credit to help the company cash flow their new customer growth.

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Another Done Deal - The Details

Posted on Tuesday, May 31, 2011 1:13 PM

THE COMPANY:

A rural telecom company obtained an underfunded SBA loan from its local bank several years ago, resulting in the need to seek additional outside financing in the amount of $500,000. An angel investor provided the funding in exchange for preferred stock to be re-purchased in 3 years or converted to a 24% interest loan.

THE CHALLENGE:

As a result of expansion and growth the rural telecom company was unable to re-purchase the preferred stock at the end of 3 years, and the local bank did not want to extend an additional loan to refinance the $500,000 as few lenders have experience with this industry to determine asset values.

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Another Done Deal - The Details

$2.775,000 SBA 7(a) Loan Closed And Funded

Another Done Deal - The Details