The Madison Group (TMG), a leading national lending source
of commercial financing, arranged a $1,933,234 loan to refinance a car wash and
lube center in Houston, TX.
The borrower’s goals were to refinance their SBA 7a loan which
had adjusted to a very high interest rate and into a conventional financing
loan with a lower rate. The borrower was very pleased with their new loan
terms.
Property: Car Wash
Location: Houston, Texas
Loan Amount: $1,933,234
Interest Rate: 8.25%
Terms: 5 years
Amortization: 20 years
Prepayment: 3, 2, 1
Guarantee: Recourse