SBA 504 Refinance, Arts District, Downtown Los Angeles
+ 85% Loan-to-Value
+ 1st TD: 5-year fixed / 25-year amortization
+ 2nd TD: 25-year fixed / 25-year amortization
+ Cash-Out for Working Capital
Sequoia Commercial Lending is excited to announce the closing of an owner-occupied industrial building located in the Arts District, Downtown Los Angeles. Our borrower purchased the building with a private money loan and conducted significant improvements to make ready the building for weddings, catering events, corporate outings, galleries, and pop up occasions.
Sequoia was tasked to find a loan that would payoff the private party note, recoup the capital improvement expense spent out of pocket, and provide additional cash-out for the borrower to be used as working capital for other business expenses. Utilizing the SBA 504 Refinance Program, Sequoia secured an 85% LTV loan, which includes the 25-year fixed SBA debenture product.