A New Jersey-based treatment and sheltering organization needed funding to purchase the building they had been leasing as well as additional funds for working capital. Since 2004, they have served thousands of men and women focusing on recovery, wellness, and care.
Their Newtek Lending Specialist provided personalized, hands-on assistance, guiding the borrower through each stage of the lending process, and structuring the best loan to match their capital needs.
With the $4,304,000 loan, they were able to:
- Secure ownership of the building
- Purchase equipment to enhance their business operations
- Make improvements to the building and cover minor repairs
- Increase their capacity to serve more people
- Purchase additional beds and furnishings
- Hire additional employees
In addition to the 25-year amortization schedule which helps keep monthly payments low, Newtek's loan programs offer:
- No Balloon Payments
- No Restrictive Bank-like Covenants
- Higher Loan to Value when Commercial Real Estate is used as Collateral
How can Newtek Lending help your clients do more? Please click below or log in to NewTracker at www.newtekreferrals.com to submit a referral today.
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