Financing the Acquisition of Equestrian Center Property
Financing the Acquisition of Equestrian Center Property
"While the process working toward acquiring an SBA loan was long and required substantial amounts of detailed input, working with 44 Business Capital made that process very achievable. The individuals we worked with were invaluable in explaining and keeping track of our documentation. They were always available to answer questions and provide guidance. Lynne Singletary was amazingly helpful and was always able to explain requirements in a manner that was understandable and allowed us to provide appropriate and accurate data."
Debra Spear and Brenda Scully, OwnersSilver Springs Equestrian Center | Geneva, FL
CHALLENGE
Debra Spear, an Army veteran, and her business partner Brenda Scully had a dream of one day owning their own equestrian boarding and training facility. They found a beautiful equestrian property in Geneva, FL but conventional lenders were not able to help with the financing based on the start-up nature of the request. If they were to provide the financing, Debra and Brenda would have had to inject at least 40% of their project costs. They came to 44 Business Capital with an excellent business plan and reasonable projections that made sense and fit perfectly into the SBA 7A financing program with much less down payment than would have been required for conventional financing. The dream of owning their own equestrian facility has now become a reality and the partners are filling the stalls and providing training to the equestrian competitors of the future.
