Repeat Client Closes $6.2MM Commercial Property Purchase in Tennessee
Our team at Alternative Capital Solutions was able to recently help a long-term client close a $6.2MM loan for the purchase of 133 acres in Portland, Tennessee. A native of Bowling Green, Kentucky and a well-known developer, our client allowed us to work locally and we were able to secure financing for this deal using a Tennessee community bank. Sitting as a previously stalled development project, the large tract of land will now be revived by our client and will boast 269 single-family residential lots with Phase 1 of the project launching soon with 84 pre-paid lots. This loan closing is a testament to our Credit Team and our repeat clients who trust us to secure the right funding quickly and easily.
Have a commercial real estate deal that you would like to talk through? Our team is comprised of creative outside-the-box thinkers who thrive in finding unique funding solutions. Contact us today by submitting a Funding Inquiry via our website: https://alternativecapitalsolutions.com/funding-application/
DealTalk Podcast: Pre-Underwriting Is the New Gatekeeper in Commercial Lending
Listen in as CLBA co-founder, Terry Luker, kicks-off a new year of the DealTalk podcast with Joe Compagno of CONNECT to discuss pre-underwriting when it comes to successful loan brokering, hear about a recent deal from Commercial Capital BIDCO, and learn more about what is coming up with the Commercial Loan Broker Association and its calendar of events.
Give the podcast a listen on the DealTalk Spotify Podcast Channel or watch the full episode on the DealTalk YouTube account using the links below!
Spotify: https://open.spotify.com/episode/6boVvgFxH1W2wkq3XHR9CE?si=obkSNWcYT_aBrlSWne1i3Q
YouTube: https://youtu.be/OLTOa4I9qmg
Terry Luker Discusses Being an Advocate For Your Clients
With lending parameters continuing to tighten for small business owners across the United States, Commercial Loan Brokers are having to learn now, more than ever, the importance of being an advocate for your client and their needs as a business. Continued learning, strengthening lender relationships, educating yourself on new loan products, and increasing expertise in SBA lending will be what aids brokers when it comes to finding creative solutions for their clients.
Terry Luker has always had a passion for continued education when it comes to the Commercial Lending industry and wants to ensure that Commercial Loan Brokers are taking advantage of the resources that will make an impact with their client-base. With the Commercial Loan Broker Association's upcoming Conference & Expo this October 1-3, loan brokers in our space will have the ability to make new connections, participate in hands-on training, and leave with a renewed outlook on securing the proper strategies for their current and future clients. Give Terry's video below a listen!
ACS Closes $5MM Second Lien on Tennessee Hotel
CLOSED & FUNDED! Our client was completing a major Property Improvement Plan and needed to tap into their equity on the property in the amount of $5,000,000. The east Tennessee hotel and hospitality property performs extremely well. Due to the impeccable financials, Terry Luker and our team was able to secure a second lien on the property and get the client the $5,000,000 they needed to complete their renovations. We completed the second lien financing to keep the first lien in place due to the value of the lower interest on the first lien. We're excited for our client as well as the positive outcome of this creative deal structure we created with the second lien.
Have a property that needs renovations, improvements, or has equity that needs to be utilized to strengthen other areas of your business? We would love to help! Submit a deal inquiry form today HERE ON OUR WEBSITE.
Equipment Lending 101 from ACS
Opening or expanding your business often requires the acquisition of various assets you will need to run that business. Enter the business equipment loan. A business equipment loan is a type of financing specifically designed to help businesses acquire the necessary tangible assets and equipment required for their operations.
Some things that can be purchased with a business equipment loan include:
- Machinery and Heavy Equipment:
- This includes manufacturing machinery, construction equipment, agricultural machinery, and other specialized equipment required for production or operations.
- Technology and IT Equipment:
- This category encompasses servers, computers, printers/scanners, any software your company may need, or any other technology that is essential for your business to function.
- Agriculture and Forestry:
- Agriculture equipment loans include purchasing tractors, harvesting equipment, livestock/livestock equipment, irrigation systems, safety equipment, or any other assets that will be essential for the operations of the farm.
- Vehicles:
- A business may also use their equipment loan to purchase vehicles necessary for business operations such as delivery vans, trucks, specialized vehicles for services the company provides, etc.
Other items that can be purchased with a business equipment loan are office furniture & fixtures, medical equipment, restaurant and foodservice equipment, and retail fixtures and technical equipment.
Business equipment loans are typically secured by the equipment being purchased, meaning that if the borrower defaults on the loan, the lender may seize the equipment to recover their losses. Business equipment loans often offer fixed interest rates and repayment terms tailored to suit the needs of the business, allowing them to acquire essential equipment while preserving cash flow and maintaining liquidity.
If you’re looking for an equipment loan or any other type of funding for your business, let our team of experts at Alternative Capital Solutions help you find the right solution for your business. ACS is recognized as an elite funding provider with a proven track record amongst our lending partners. Learn more about why we are the best choice in business lending here.
Submit your questions or deal inquiries in our contact form located here.