Midwest Capital Corporation Helps Local Motorcycle Dealer Purchase New Facility
Midwest Capital Corporation announces a $1,200,000 deal for purchase of a new and expanded facility for Noblesville Honda Kawasaki. Midwest Capital Corporation provided 90% of the financing and a 25 year amortization under the SBA 504 loan program to help the business owner purchase his new building.
Indianapolis, IN (PRWEB) January 16, 2008 -- Midwest Capital Corporation announces a $1,200,000 deal for purchase of a new and expanded facility for Noblesville Honda Kawasaki. Midwest Capital Corporation provided 90% of the financing and a 25 year amortization under the SBA 504 loan program to help the business owner purchase his new building.
"Steve Young and the associates at Midwest Capital were the driving force in assisting Noblesville Honda Kawasaki financing our new facility. Steve and his staff leveraged their relationships in the banking community to get the deal done. They are a first class operation. I strongly recommend any small business looking for capital to call Midwest Capital," said Charlie Deines, Noblesville Honda.
"It was obvious that Midwest Capital Corporation was able to see the opportunity that many of the other banks overlooked. Your program provided the buyer with 90% financing and a 25 year amortization -- two key features that allowed the buyer to acquire our building," said Darrin Boyd, Principal and Senior Vice President, Office Sales & Leasing for Colliers Turley Martin Tucker. "It was refreshing to work with a professional group that is focused and understands commercial real estate financing."
"It's always a satisfying experience to help an entrepreneur accomplish his goal," said Steve Young, Midwest Capital Corporation President. "The 504 program allowed Charlie to acquire the new building without having to come up with a large down payment -- thus allowing him to retain more cash to expand his business."
The SBA 504 program is an economic development loan program designed to help small and medium size companies acquire or build their commercial real estate for expansion and job growth. Loans made under this program are structured to provide up to 90% financing. The program is a participation program that combines private finance money, which provides up to 50% of the project financing, with government backed financing, which provides up to 40% of the project financing.
Midwest Capital Corporation is a national, non-bank lender which provides both conventional and SBA 504 long term commercial mortgage loans, ranging from $1,000,000 to $10,000,000, to small and medium size companies.
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