$8,000,000 mixed-use Commercial Building refinance falls apart at funding stage.
Current lender is not willing to provide any further funds.
Client has already committed funds as down-payment for another property.
Timeline: 30 days until closing on the new property
How Does SGE Financial help?
We Consult/Liaise with incumbent lender to identify the issues and challenges they cannot overcome. We complete a thorough analysis identifying all key issues and providing mitigating factors along with additional supporting rationale to provide the lender comfort that the risk is manageable and there is ample debt-service coverage to repay the commercial mortgage loan.
Based on SGE’s complete commercial real estate financing consulting package/ analysis, the new lender provides a term sheet for $10,000,000 including both the commercial term loan and an operating line of credit for additional working capital lending at a lower rate. The client signs and the deal is funded at the full $10,000,000 within 17 days.