Approved at last!!
Posted By cls on March 16, 2010
Banks have historically been on the front line of small-business lending. Unfortunately that has not been the case as of late. However, there are still some amazing things happening. Here in Atlanta, we were able to secure funding for a local restaurant owner to purchase a foreclosed property that was across the street from a strip center he is currently leasing space from. After several months of negotiations over the sales price, we were finally able to submit the loan package and with in a month we had our Approval!
Here is what got this project approved:
-Experienced Borrower (our client had been in the restaurant business since he was a young boy.)
-Cash Injection (he had money to put into the project)
-Good Credit
-Location (due to the new location being close in proximity to his current restaurant, the client will be able to retain his current clientele.)
With all the doom and gloom going on around us, I thought I would share something positive today.
That’s great news! Congrats!
Great news!