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The Madison Group arranges a $1,933,234 loan to refinance a car wash and lube center in Texas

Tags: Commercial Financing, Car Wash Loans, Long Term Conventional Loans, Nationwide Financing, Texas Financing
Friday, Jun 02, 2023
by Brandi Link

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



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