Manufacturing Client in Indiana Secures Cash-Out Refinance to Pay Down Debts
Paying down current debt can feel like an uphill battle when you are a business owner, however, we utilize outside-the-box thinking and funding strategies to help our clients pay off debts while keeping their finances healthy. Our manufacturing client located in Wabash, Indiana was able to secure a $1.6MM loan at a LTV of 65% in order to pay down their loans and plan a new strategy for their future as a company. Our team at Commercial Capital BIDCO was able to get creative with this deal by splitting the deals and paying off multiple loans quickly.
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Refinancing Deal for Tennessee Manufacturing Plant
We were able to help our client close on the refinance of a cloth materials manufacturing property and the accompanying land on June 1, 2022 in Church Hill, Tennessee. The client was excellent to work with and we were able to close quickly on this 283,197 sq ft property along with the 167.55 acres. The LTV with this deal was 63% and requested loan amount was $3,022,500.00.
A portion of the loan was used to pay off existing loans, and the remaining portion was used as working capital.