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Principal Commercial Capital Group arranges three loans totaling $580,500 to help local business owners!
PCCG is pleased to announce the closing of $580,500 in term loans that helped with business expansion and real estate acquisition.
*$260,000 for the purchase of commercial real estate allowing the borrowers to open their 2nd liquor store. PCCG was able to secure the loan through traditional financing even though the operating entity was a start up, new location. Financing provided a 25 year amortization and initial fixed rate of 5.25%.
*$112,500 to the owner of a technology company purchasing a new office condo. Financing provided an initial fixed rate of 5.25% and 20 year amortization.
*$208,000 to an existing printing business to acquire a competitor. The financing was done via the SBA 7(a) program and provided 90% financing along with additional working capital.
Principal Commercial Capital Group arranges a $1,800,000 Loan for Business Acquisition
PCCG is pleased to announce the closing of a $1,800,000 SBA term loan for the acquisition of a successful advertising agency. The borrowers had great industry experience and worked with PCCG to review many opportunities over the course of a year, before locating the business that was perfect for them.
Client Testimonial: “My wife and I were super ambitious about the size and cost of the business we wanted to buy. We knew if it were too small, it wouldn’t have the employees we would need to move the business forward, and if it were too large, we would have to seek outside investors. PCCG helped us structure an SBA loan that leveraged our assets, a seller note, and minimal out of pocket money to ultimately secure the advertising agency of our dreams.
My wife and I are now the proud owners of a large advertising agency with over 7 million in annual revenue. We couldn’t have done it without PCCG. PCCG was easy to work with, believed in our ability to get the funding and worked with us for almost a year to do so. We had multiple bumps along the way. We reviewed over a dozen businesses together until we found the perfect one. Can’t say enough good things about PCCG, we highly recommend them.”
Principal Commercial Capital Group arranges several equipment loans to help business owners!
PCCG is pleased to announce the closing of a various equipment loans to help business owners. We have many programs for owners with unique circumstances or challenging credit.
*$51,000 to a construction company for purchasing a new truck. The owner didn’t have good credit, but was able to leverage existing equipment to improve the lenders collateral position and get approved.
*$65,000 to purchase a truck and trailer. The client had limited funds for down payment, so PCCG was able to arrange the financing through a lender willing to secure the loan with personal real estate. The client was only responsible for paying 1st months payment and a small processing fee.
*$46,000 to a contractor looking to lease a mini excavator. The business owner did not have good credit, so we were able to arrange the financing by adding his wife as a cosigner. The client only needed to pay 1st months payment at closing and the terms provided beat an existing offer the client received from the dealer.
*$25,000 for the purchase of a forklift. PCCG provided multiple offers for as little as 10% down with $1 buyout.
*$45,000 to an excavating company who wanted to purchase an excavator rather than rent. PCCG arranged financing for a lease with $1 buyout, that cut his monthly payment in half!
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.
“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.”
Principal Commercial Capital Group arranges a $51,000 equipment loan for a construction company!
PCCG is pleased to announce the closing of an equipment loan for $51,000 to purchase a new truck. The owners of the business had challenging personal credit, but good business cash flow. The personal credit prohibited them from securing bank financing, so they contact Kari Smith of Principal Commercial Capital Group.
Kari was able to secure financing for the client with a specialty lender willing to take additional equipment to improve their collateral position and approve the loan. The loan included costs for delivery and warranty.
Client Testimonial: “My experience with Kari Smith was great. She is knowledgeable, professional and was responsive to all of my financial needs, as well as helpful in addressing my concerns. Kari was attentive through out the entire process and was able to source the best loan for our funding needs, successfully. I am impressed and will work with her for future business financing.”
Principal Commercial Capital Group arranges a $980,000 Commercial Mortgage!
PCCG is pleased to announce the closing of a commercial mortgage for a client looking to open his 3 rd restaurant location. The property will serve as an excellent investment as it also includes 4 commercial rental units providing additional cash flow.
The opportunity was generated by Kari Smith, PCCG Business Development Officer, and referred by the commercial real estate broker representing the client in the purchase.
The loan was structured using the SBA 7(a) program, with a borrower equity injection of just 10% and only needing to pledge the commercial property as collateral. (primary home not required!).
Client Testimonial: “Bobby Young and PCCG have been a pleasure to work with. He is very professional and knowledgeable in his field, and found the best terms that fit my needs. The documentation process went smoothly with his guidance. I will definitely use PCCG again on my future endeavors.”
Principal Commercial Capital Group arranges a $1,800,000 Commercial Mortgage!
PCCG is pleased to announce the closing of a $1,800,000 commercial mortgage, done as a blanket loan, on 5 investment properties in NJ. This was an existing PCCG customer who utilized our services to acquire a property in FY 2016 using creative financing; and one year later saw benefit from significant appreciation in value allowing for additional cash out.
The loan provided several benefits to the investor:
– Consolidated 5 individual loans into 1 at a lower interest rate, dramatically improving monthly cash flow.
– 25 year TERM, with several rate reset periods. Borrower will never need to refinance again!
– Initial fixed rate period fixed at 4.28% for 5 years.
– Additional cash out money to recoup equity into the properties and provide capital for future investments.
The properties ranged from a 2 family, to a 10 unit mixed use.
Principal Commercial Capital Group arranges $808,000 in Term Debt
PCCG is pleased to announce the closing of a $808,000 SBA term loan for the owner of a national tax preparation franchise.
The borrower was looking to refinance existing debt with very short-term maturity, allowing for significant improvement to cash flow. In addition, they liked the fact of a 10 year term, but having the option to prepay without penalty.
Principal Commercial Capital Group arranges a $2,482,000 Commercial Mortgage
PCCG is pleased to announce the closing of a $2,482,000 SBA term loan for the purchase and construction of a commercial property by a successful martial arts / fitness center. The borrower is highly sought out by patrons throughout the United States and internationally, resulting in rapid growth with the need for a larger training facility. The owner approached several banks directly, however, they would not provide the full amount needed to finance the project.
The client was referred to PCCG by one of his bankers that is also a member of the gym. PCCG was able to leverage our experience in SBA lending, along with our large partnership network, to provide a lender that understood the client’s vision and successfully deliver the financing. The overall structure includes an 8 month interest reserve, giving the borrower adequate time to complete the remodel and alleviate the burden of loan repayments until the gym is opened.
Principal Commercial Capital Group is a group of commercial financial advisors that utilize a premium, network of alternative lending providers to obtain financing for your business.