Special Purpose Loans:
Special Purpose Loans are that category of special, specific use facilities:
- Gas Stations and/or Convenience Stores
- Daycare Centers
- Assisted Living Facilites
- Funeral Homes
- Dry Cleaners, etc.
As with Entertainment Loans, these loans are a harder category to obtain. But a large number of our resources focus on these loans; and we are funding them every day. As you might readily imagine, as these take some specialized skills to run correctly, and profitably, they are a higher risk category. But again, all of our lenders each have an area that is "sweet spot" to them -- and area that is their preferred specialty to finance. If we're financing a liquor store, we tap that lender who likes to do liquor stores. And in this, there is safety for everyone: Because these are specialty areas, each of these lenders knows this particular area especially well; and will evaluate some very probing questions with regard to the future prospects of that business: If you've not considered those areas that will be brought up, you need to. And if you have, you can rest assured that, with regard to the potential viability of your project, you are thinking as the experts do.
As I've said in other places in this website, a large number of borrowers (if not the vast majority of them) that we see, have already been turned down by their local banks -- for the very same loans. (Some of the reasons for this are discussed in this section.) But we are funding these loans. These specialists have money that they're trying to deploy into these areas. So, contact us. Let us review the parameters of your loan, and work to put you together with the funding that you need.
And to mention it again, if you already have an existing loan that you're delighted with, in the period since you've taken that out, rates have come down significantly, such that you can save significantly on our monthly loan outflow, while at the same time, stabilizing your loan signficantly (i.e., no balloon) over the next several years. --This is highly recommended, as we begin to face tumultous times: stabilize your finances now.