Chevy Chase, MD (PRWEB) July 9, 2008
MainStreet Lender LLC, a non-bank small business lender based in Chevy Chase, MD announces the placement of a new senior credit facility with Wells Fargo Foothill Lender Finance. The new three year facility fuels MainStreet's continued expansion of 7(a) lending and alleviates the need to access capital markets for securitizations.
According to George Harrop, founder and CEO of MainStreet Lender, "MainStreet Lender's ability to secure a larger debt facility in this very difficult credit environment is a testament to the reputation we have built in the marketplace for professionalism, hard work, and effectiveness. We look forward to the competitive advantage this will give us as we continue to ramp up our small business lending."
MainStreet Lender is one of 14 non-bank lenders authorized by the SBA to underwrite and close loans under the Preferred Lender program. MainStreet makes SBA 7(a), 504 and conventional loans up to $6 million, specializing in owner-occupied commercial real estate. MSL finances a variety of small businesses such as professional office condos, assisted living facilities, childcare, gas stations, hotels, convenience stores, funeral homes, health and fitness clubs, manufacturing, and more. MainStreet currently operates 17 offices across the US, with regional headquarters in Chevy Chase, MD; Denver, CO; and Plano, TX. For more information about MainStreet Lender, visit http://www.msl.com.