Purchase Loan for Tile and Pavers Company

On behalf of a family-owned tile and pavers company, we obtained a $318,750 commercial purchase loan to allow the business to purchase a property to run its business. We were able to get them approved for the loan (at 75% loan-to-value with an interest rate of 7.875% for the first 5 years) using 12 months of their business bank statements. The bank statement program was helpful here because the company’s tax returns were not enough to show their ability to repay the loan.

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