Bedford Lending provided financing for a client to refinance a 9 unit mixed use property in the Northeast. The property consisted of a commercial tenant, two apartments and six shared units (SRO). The $445,000 loan paid off the bank, paid off $100,000 in personal credit card debt and provided the borrower cash out. The borrower noted that over 10 lenders declined his request due to his high personal credit card debt and the mix use nature of the building.

Bedford Lending was retained by our client to develop and implement a turnaround strategy for his hotel business.  BLC negotiated the buyout of a partner; negotiated a 50% payoff of unsecured loans, secured a line of credit to cover seasonal cash flow shortages and procured a SBA loan that paid off a private mortgage.  The new structure has positioned the client for future success.

A 50% partner of a car wash business desired to purchase the stock of his partner but was denied by banks because of their concerns over the single use nature of the property, a weak balance sheet of the business and general concerns with the indusrty. Bedford Lending provided a $650,000 1st mortgage which enabled the client to effectuate the purchase. Bedford underwrote the loan based on the going concern value of the business, strong management and attractive location of the property. The loan has met the borrower’s goal of securing 100% interest in the business.