13 January 2024 – POSTED UNDER:
Borrower called on Weds Dec 20th. He had a $100K non-refundable deposit w/ 4 days left to close on a $3.5M industrial warehouse. SBA bank required wind insurance ($200K+/yr), couldn’t find a carrier for various reasons. We funded $2.4M to close the sale on the 30,565 St Ft Industrial property.
Banks are tightening. Most lenders don’t understand Small & Midsize Business (SMB) complications. We’re a group who have been there, and done that. We’ll listen, consult and provide alternative optionality to your funding needs.
E: info@altopx.com
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