11/07/2024
$6.825M 1st TD Commercial “Cash Out” Refi of two SB Industrial Properties
In October, the SBCF provided a $6.8M “Cash Out” Refinancing of an owner-occupied SB Industrial Property. The funds provided permanent working capital for our Borrower’s business venture. We’ve known our clients for 20 years, and we appreciated the opportunity to meet their timely request!
Why use the SBCF for a “Cash Out” real estate secured loan?
Converting your commercial or investor residential real estate equity to cash for a business purpose is a niche that the SBCF specializes in. These types of loans usually work well when secured with long-term real estate holdings that have accumulated significant equity. The SBCF “Cash Out” loan is typically a bridge to a permanent bank or mortgage loan. Banks are usually reluctant to provide the necessary cash out needed but are more than willing to refinance the temporary SBCF bridge loan as a straight refinancing (with no “cash out”). Our banking background/expertise allows us to guide clients through this successful bridge…allowing clients to maintain their existing real estate holdings while accessing much needed cash to create additional value!
The SBCF specializes in investor residential & commercial bridge loans in Santa Barbara County…if you have a request or financing scenario you would like us to consider, you can reach us at [email protected].
santabarbara
