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Case studies
Anonymized transactions: the problem, what we did and the result.
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USDA B&I guaranteed loan · LouisianaClosed
$6.75M
USDA-guaranteed loan
- Problem
- A rural industrial contractor carried merchant cash advances, a payroll-tax liability and an unfinished facility.
- What we did
- Secured a completion bridge approval, then a USDA B&I loan, and re-placed the file when the first bank walked days before closing.
- Result
- Closed, with long-term debt replacing short-term advances.
Owner-user bridge · CaliforniaClosed
$300K+
projected annual savings
- Problem
- An aerospace manufacturer was paying a mortgage, an IRS lien and daily MCA payments at once.
- What we did
- Structured a low-leverage owner-user bridge on its $6M building that paid off all three.
- Result
- Closed at $2.75M, with a path to SBA financing next.
Rehab-completion bridge · GeorgiaClosed
$3.0M
rehab-completion bridge
- Problem
- A hard money loan was coming due with a 56-unit renovation only partly finished.
- What we did
- Placed a bridge with a $1.3M rehab holdback and an interest reserve.
- Result
- Closed, giving the owner 18 months to finish and stabilize.
Multifamily refinance · FloridaClosed
6.71%
fixed rate, no covenants
- Problem
- An investor needed permanent debt on a recently purchased 16-unit building.
- What we did
- Placed it with a credit union instead of bridge or agency financing.
- Result
- Closed at $1.33M: 5-year fixed, 25-year amortization.
Cash-out refinance · TexasClosed
6.59%
fixed-rate cash-out
- Problem
- Local community banks would not lend on a rural 12-unit apartment building.
- What we did
- Underwrote to documented income with a program built for small multifamily.
- Result
- Closed at $1.05M and 70% LTV.
Owner-occupied permanent loan · TexasClosed
$25K+/mo
saved in MCA payments
- Problem
- A precision-electronics manufacturer was declined after a lender misread its products as explosives.
- What we did
- Presented the business accurately and paid off an MCA from proceeds.
- Result
- Approved and closed, eliminating more than $25K a month in MCA payments.
Cash-out bridge · New JerseyClosed
$250K+
more cash out than the competing offer
- Problem
- Most lenders exclude any building with a cannabis tenant.
- What we did
- Structured a low-leverage cash-out with a lender that has a policy for it.
- Result
- Closed at roughly 40% LTV, with $250K+ more cash-out proceeds than the competing offer.
A deal that didn’t close
Included because it shows how we think about risk.
Private credit facilityDid not close
$10M
term sheet issued
- Problem
- A non-bankable cannabis grower with stacked MCAs needed one large facility.
- What we did
- Secured an asset-based private credit term sheet: 12% cash interest plus 6% PIK.
- Result
- The property appraised low and the facility did not close. Our takeaway: test real estate value first.
Why deals break, and how we fix them
The problems behind these case studies, and how each one gets solved.
Existing MCA debt
Can you get a real estate or SBA loan if you have merchant cash advances?
Yes, if you own real estate or meaningful equipment. The loan has to be sized to pay the advances off at closing. Lenders worry about MCAs because daily or weekly payments drain cash flow, and balances can change right up to closing.
How it gets solved
- Get current payoff letters for every advance.
- Use your building or equipment as collateral, not your daily revenue.
- Plan for payoffs changing near closing so the deal doesn't break at the table.
USDA B&I guaranteed loanClosed
From MCAs and a tax lien to a $6.75M USDA loan for a rural industrial contractor
- Loan amount
- $6,750,000
- Property
- Industrial
- Location
- Louisiana