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Car Wash Refinance

$9,700,000 Refinance on Four Car Washes in Utah

Tags: commercial financing, car wash loans, car wash refinance loans
Monday, Oct 05, 2020
by Barb

The Madison Group (TMG), a leading national lending source of car wash finance arranged construction financing in the amount of $2.8MM on a new location along with loans for the refinance of three existing locations with a combined amount of $6.9MM.   

The borrower continues to rely on TMG to present competitive and executable loan terms through their Utah expansion.  The borrower’s needs include construction loans, construction to permanent loans, and refinance facilities to accommodate changing market conditions.  TMG has found excellent lending partners that have worked through a complex lending structure to achieve the borrower’s financing goals.

Location:  Multiple Utah Locations  

Property:  Tunnel Car Wash

Loan Amount:  Combined $9.7MM

Interest Rate:  4.25%

Term:   10 Years

Amortization:   25 Years

Prepayment:  None

LTV:   70%

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