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Landmark Diner Secures Financing

“My current commercial mortgage was ballooning and my current lender was being unreasonable. I also wanted to obtain some working capital to expand our Sports Bar section with an outdoor patio. I was referred to 44 Business Capital who was able to help us obtain one loan that consolidated both needs. On top of everything, 44 helped us save about $7,000 a month in cash flow through reduced debt service.”

Vasilios J. Patouhas, Owner
Geets Diner, Williamstown, NJ

CHALLENGE

The borrower had several needs that 44 Business Capital attempted to address. First, the borrower's commercial mortgage was ballooning with their current bank. However, the borrower also wanted to buy out a former partner and gain 100% control of the business.

Lastly, the borrower needed working capital to build a patio to expand the business operations and increase revenue. Credit continues to be difficult in this environment and their existing bank was not willing to entertain the request. 44 Business Capital structured an SBA 7a loan to address all the borrower's needs and still saved the business over $7,000 in monthly cash flow through reduced monthly debt service.