Property Type:Manufacturing Loan Amount: $550,000 Loan: Refinance and Expansion
Finance Challenge: The owner of a small manufacturing operation had experienced three years of unprofitable operations due to rapid growth in the company. Moreover, the client needed to expand into larger space to process larger and more profitable contracts. The operating losses and a negative net worth precluded them from securing bank financing. New York Commercial Lending provided a loan which: (i) consolidated the owner’s existing debt, thereby improving cash flow and (ii) provided cash to purchase and renovate a new facility to facilitate their needed expansion. Results: The borrower is now positioned to capitalize on opportunities created by a number of large contracts which they could not fulfill due to space limitations.