$1.5MM Restaurant SBA Acquisition | Fort Worth, TX
Terrydale Capital
Nov 15, 2023 3 Min read
When it comes to financing and maneuvering the lender space, not everything always goes to plan. In some rare occasions, lenders may choose to pull out of a deal in the late stages, just when everything seems to be set. In these situations, it pays to have a team that is prepared to cover all bases during all phases of the transaction, and that is what Terrydale Capital did for our client. In this deal spotlight, we highlight how our team went to work for our client to secure their SBA loan on their restaurant asset in Texas.
What We Were Up Against
The borrower came to Terrydale Capital seeking to receive an SBA loan on their vacant restaurant asset in Fort Worth, Texas. The transaction was going very smoothly until the initial funding source decided to punt the deal one week prior to closing due to a new CLO (collateralized loan obligation).
How Terrydale Rose to Meet the Challenge
Our team sprang to action immediately. We communicated clearly with both the buyer’s and seller’s brokers throughout the process to negotiate an extension that fit the new lender’s timeline as well as the seller’s. Despite the initial lender’s denial, we were able to close and fund the deal within three weeks.
- $1,500,000 SBA Acquisition
- 9.50% Variable Interest Rate
- 25-Year Loan Term
- 25-Year Amortization
- 80% LTV
In Closing
When it comes to being prepared for the unexpected when investing in commercial real estate, it pays to have the right team behind you. When you need a partner to go to bat for you to ensure all of your bases are covered, the Team at Terrydale is the right choice, and now it is easier than ever to have the Team in your corner with Terrydale Live. Contact us today!
Partner With Terrydale Capital for Your Debt Financing Needs
When it comes to debt financing, understanding the right timing, process, and options is crucial. At Terrydale Capital, we provide a comprehensive range of commercial loan solutions tailored to meet your business's unique needs.
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Headquartered in Dallas, Texas, Terrydale Capital is a leader in commercial real estate financing. We have close relationships with the nation’s top banks, lenders & family offices allowing us to provide the most competitive financing solutions in the market.
