Purpose:  Acquisition 
ProgramPrivate  'Soft' Money
Property TypeSpecial Use - Car Wash
LocationHouston, Texas
LTV/LTC65% of the Purchase Price
Terms 15 years amortized with adjustable rate, 9.8% Rate.
Details:  Our team assisted the borrowers with the purchase of a Car Wash Property.  The client has operated a mobile 'hand wash & auto detail' business for seven years prior and ready for expansion into a brick & mortar set-up.  The purchase of the property will allow our client to continue his mobile car wash business and with the new expansion on a busy street, an increase in cash flow. 
    The main challenge with the transaction was the subject property as it needed equipment updates, non-operational, no revenues, and special use.  We were able to overcome the obstacles with a private 'soft' money program.  Once property is operational and stabilized, we'll assist with a refinance.
FundingEdge & Power2Fund
The EDGE in Commercial Real Estate Finance

Phone: (210) 249-2111 / (830) 331-4030
Fax: (210) 280-0069