A past client of ours referred us to his girlfriend who needed to refinance her restaurant. She had an SBA loan previously that had to be paid off.
The restaurant business started over 15 years ago but a few years back the property was leased and someone else was operating the restaurant, hence the reason SBA wanted to be paid off. Recently our client got back in control of the restaurant and was in operations as an owner operator but unfortunately had limited financials to support the loan request which made the transaction extremely difficult.
ALB was able to structure a loan whereby the borrowers income from their other business was able to provide global support assisting in the borrower to qualify for the loan.