| Borrower | Aerospace/defense prototyping company (owner-user, separate property LLC) |
| Property | 17,500 sf industrial building |
| Location | California |
| Value | ~$6M |
| Request | $2.75M (~46% LTV) |
| Product | Owner-user bridge, then SBA |
The problem
A $1.65M mortgage, a filed IRS payroll-tax lien of about $600K, roughly $420K of merchant cash advances, and a year-to-date loss after a large one-time payment. Some lenders also screen out defense-related work.
How we structured it
A low-leverage bridge secured by the building paid off the mortgage, the lien and the advances in one step. Once the financials season, the plan is to refinance into SBA at a lower rate. The operating company pays rent to the property company, and the right lender underwrites both together.
The impact
Savings of roughly $308K–355K a year versus the current debt.
What this means for you
If your building has equity, it can replace your most expensive debt, even with liens and a rough year.
In a similar spot? Get soft numbers on your deal
Why this deal was hard
Each one links to a full guide on how it gets solved.
Anonymized; amounts may be rounded. Terms as issued by the lender.