In this transaction San Diego Commercial & Business Financing was able to finance the refinance of a loan for a thriving local business. This client was unable to get financing from multiple other local lender before they can to us.
LTV: 65%
Term: 5 year fixed, amortized over 25 years, due in 25 years
Rate: 5.75%
Prepay: Declining
San Diego Commercial & Business Financing is proud to present the funding of our largest SBA transaction to date. Our client was struggling to find replacement financing for their existing loan on their own office building. Because their company gone through a complication reverse merger AND because the type of business fell outside the standard business classes that traditional banks like to lend to, they were unable to find traditional lending. Their existing lender was threatening foreclosure, and our very successful client was in a substantial pickle.
San Diego Commercial was able to provide an SBA 7(a) loan that allowed our clients 5 years of breathing room, lowering their cost of capital and guarnateeing that they would continue the substantial growth trajectory. The transaction was funded by Sr. Vice President Shawn Harris, assisted by BDO Gary Davis.
Shawn Harris has been active in the Commercial Real Estate community in San Diego for over ten years. At CTM Financial Services where he was the President he oversaw the funding of both commercial and residential real estate loans. As a branch manager of Stearns Lending, the largest privately held non-depository mortgage bank in California, he independently operated his own Mortgage Bank, catering to again to both the commercial and residential community.
For the past three years Shawn has focused solely upon the needs of his Commercial Real Estate clients and partners and is the founding partner of San Diego Commercial & Business Services. By leaving the banking world he believe he can better serve his clients by offering a FULL product offering of loan services.
Please see his LinkedIn profile HERE.
Shawn specializes in finding A+ quality loan products for clients and properties that have trouble finding the appropriate loan placing. He has successfully placed loans across all asset classes, including multi-family properties, office buildings, retail properties, gas stations, mobile home parks, restaurants, bars, self storage facilities, and auto shops.