Success Stories

 

Looking to finance your next project?

Call us today to see how we can help 973-588-5315.

Principal Commercial Capital Group arranges financing for a Business Acquisition

PCCG is pleased to announce the closing of an SBA term loan for the acquisition of a spa & pool retail store. The financing includes purchase money for the business, along with working capital and additional proceeds to buy several delivery/service vehicles.

The borrower is a former enlisted Marine and Purple Heart recipient, looking towards the next phase of his life. They provided the below testimonial which is a great compliment to the service we aim to provide.

Client Testimonial: “While looking for 315K in financing to buy a Spa & Pool dealership, I was turn down by over NINE different banks! PCCG came to my rescue and assured me that they could get me funded.  I was very skeptical at first, but within a few days I received a call from Mr. Young telling me that he had found me a bank who would be willing to fund me. I couldn’t believe it, I was honestly just going to give up.

But as of three days ago I became a brand-new owner of a Spa & Pool dealership!  Myself & my family are so grateful for all the work PCCG did turning our dreams into reality. I would recommend them to anyone looking for a business loan.  Seriously they couldn’t have made it any easier.  Bobby is the best at what he does.  He answers his phone and returns emails immediately. I honestly can’t say enough good things about them.”

Principal Commercial Capital Group arranges a $2,000,000 ABL Facility for an IT Consulting Firm

PCCG is pleased to announce the closing of a $2,000,000 asset based line of credit for an IT Consulting firm. The company works with many Fortune 500 companies to complete projects on a contract basis. Recently they acquired two (2) new businesses and needed working capital, primarily to cover payroll.

The opportunity was referred to PCCG by the client’s commercial banker. They provide the lending and banking services for the existing companies, but were unable to do the financing for the 2 acquired entities; preferring there be more time of ownership. PCCG was brought in to secure financing on those companies, while being sensitive to the existing banking relationship.

PCCG was able to arrange the financing with a non-bank ABL lender that understood the successful track record of ownership and took the time to understand their plan to integrate and grow the new business.

Principal Commercial Capital Group arranges financing to purchase a Dry Cleaning Business

PCCG is pleased to announce the closing of a $180,000 SBA Term Loan for the purchase of an established dry cleaning business. The borrowers had not previously owned a business and were new to the lending process. PCCG was brought into the transaction by the business broker representing the sellers. Not only were the buyer’s new owners, but the business being acquired is a cash business making it more challenging to achieve financing. PCCG was able to work with the client from start to finish, providing a consultative approach to getting the necessary funding in place.

Client Testimonial:

“I always wanted to be a small business owner, but I was never serious about pursuing that dream until the opportunity to buy an attractive small business presented itself – then I had to have it. Like every other opportunity, you need to be prepared to act quickly or it will disappear. In order to act quickly, you need to have your finances in order, unfortunately I was not as prepared as I should have been. I was put in touch with Bobby and he handled everything, literally everything. We hit a few obstacles that I considered to be absolute deal breakers, but he was able to circumvent them and we got the deal done, truthfully could not have done it without his guidance. The loan process is often times arduous; I would not have been able to handle everything on my own. Bobby will undoubtedly be my first call on my next transaction.”

Principal Commercial Capital Group arranges $135,000 in Term Debt

PCCG is pleased to announce the closing of a $135,000 term loan for the owner of a national tax preparation franchise.

The borrower was looking expand and had the opportunity to purchase their fourth location. PCCG was able to arrange financing on a 10 year amortization which has significant impact to cash flow, with no prepayment penalty allowing for faster payback should they choose. The financing was able to be secured right before the start of the upcoming tax season.

Principal Commercial Capital Group arranges $730,000 in Term Debt

PCCG is pleased to announce the closing of a $730,000 term loan for the owner of a national tax preparation franchise.

The borrower was looking to restructure their existing debt to free up cash flow and allow for further expansion. PCCG was able to arrange financing that provided an interest rate of 5.75% over 10 years and improves cash flow by $280,000 annually!

Client testimonial: “After two years of searching for an SBA Loan and being let down, Bobby Young came along, looked over all my financials and selected a bank that would meet my financial needs and interest. He is extremely honest, professional and transparent and made a tough process very comfortable.”

Principal Commercial Capital Group arranges $197,000 in Term Debt

PCCG is pleased to announce the closing of a $197,000 in term debt for the owner of a mental health and rehabilitation center. There were two loans; $182,000 commercial mortgage and $15,000 in working capital.

The borrower was looking to purchase their existing building that was up for sale. PCCG was able to arrange 100% financing for the purchase with a 25 year amortization. The new monthly loan payment is $800/month less than their existing rent payment!

Principal Commercial Capital Group arranges a $680,000 loan for an Investment Property

PCCG is pleased to announce a closing of $680,000 for the purchase of an investment property in Arizona. The property is single tenant, with a NNN lease.

The biggest challenge in this transaction was the borrower lived out of state from the subject property. This deterred several lenders, which is not uncommon. PCCG was able to overcome the challenge and worked diligently to secure financing with a lender who saw strengths in the borrower and property.

The loan provided 75% financing, with a 5-year fixed rate of 4.50% and 25-year amortization.

Client Testimonial: “Bobby took charge from day one and fought until he got me an interest rate I was extremely happy with.  From there, Bobby oversaw every step of the financing until a successful closing.  This was my first purchase of commercial real estate and Bobby ensured everything went smoothly.  I cannot recommend him highly enough.”

Principal Commercial Capital Group arranges a $348,000 loan for an Investment Property

PCCG is pleased to announce a closing of $348,000 in total financing for the purchase and renovation of an investment property in Colorado. The subject property is a unique 8-unit multifamily, single level/garden style that was used as a motel in the past.

The total financing included over $100,000 for repairs to the property which will allow the buyer to increase rents significantly. The after repair value is estimated to be $700,000; making it a terrific investment.

The loan provided 75% of total costs, 10 year term and 25 year amortization, with a 6 month construction period. The interest rate for the first 5 years is fixed at 4.50%!

Principal Commercial Capital Group arranges a $1,000,000 Commercial Mortgage

PCCG is pleased to announce the closing of a $1,000,000 commercial mortgage on a mixed-use building in Hoboken, NJ. The subject property is 4 stories tall, with 8 total units. 2 ground level commercial and 6 upper level apartments.

The borrower was looking to refinance an existing mortgage currently at a higher interest rate and utilize additional cash out for renovations and other investments. The loan provided a 10-year fixed rate at 4.01%, over a 30-year amortization. In addition, no personal guarantee required by the borrower.

Client Testimonial: “Bobby goes above and beyond to help you throughout the whole process. His communication and attention to detail are impeccable. He is committed to getting you the best deal possible. In addition, the loan programs he is able to provide are second to none. I would highly recommend him to anyone seeking a commercial loan.”