$1,200,000 Consolidation and Expansion Loan

Posted by in Brian's Blog, Recent Closings, Site News

Type: Debt consolidation and line of credit for 2 more Firehouse Subs stores!

The Story:  Borrower had 3 existing Firehouse Subs locations up and running but two had been open in just the last year.  A premier location came up and he wanted to grab it to open store number 4.  His existing debt on his stores included SBA loans that had liens on his and his partner’s properties.  Most banks were telling him no because they thought he was expanding too quickly and they wanted more seasoning in his existing stores.

But we have a source that likes aggressive expansion with franchise restaurants and is ok with opening stores quickly as long as the stores are profitable.  I worked closely with the borrower to tweak the numbers and show solid projections, we added back enough addbacks and presented the loan to my lender to get it done.  After multiple conference calls and back and forth with the lender and borrower, we got the loan approved to consolidate the debt on his 3 stores of $600,000 and give him a line of credit for $300,000 for his next two stores-a total loan size of $1.2 million.  The beauty of this loan is you only pay interest on the amount you use AND it is a conventional loan with NO liens on personal property.  The business is the borrower, not the individuals.  And now he can aggressively go after his next two stores and his financing is already lined up!

The borrower was very happy and shared,

“Thank you for your help.  I talk to a lot of franchisees across the country as they are looking to invest in this brand and when it comes to financing I will definitely recommend you sir.”

Thank you,

Brian Collins

Triple C Restaurants, LLC

Whether it is a first store, a second store, or a line of credit for the 5th store and beyond, I have the resources, knowledge and expertise to get the franchise loan done.  I have closed over 100 franchise stores for brands like Firehouse Subs, Jimmy John’s, Ace Hardware, Papa Johns, Pizza Hut and many more.    If you are looking to buy or start a franchise of any type, give me a call at 770-908-1672.  Talk to you soon!

Brian

P.S. IF you need help getting those commercial loans closed give me a call at 770-908-1672.  I charge NOTHING to underwrite any deal and if the deal is fundable, I can usually kick out terms in 48 hours.  WE DO CONVENTIONAL, INVESTOR, AND PRIVATE MONEY LOANS FOR COMMERCIAL REAL ESTATE AND BUSINESS ONLY LOANS VIA SBA AND MORE.  SO give Brian Peart a call for all your commercial and SBA lending needs at 770-908-1672.  WHEN THE BANKS SAY NO-BRIAN IS THE WAY TO GO!  Call Today!