Borrower: Real Estate Holding LLC for a Private, Female-Owned Law Firm
Lender: Dio Maranan
Type: SBA 504 Loan with 10 Year Term / 20 Year Amortization
Amount: $629,206
Collateral Type: Owner-Occupied Commercial Real Estate
The Story:
This borrower has been a long-time deposit and cash management customer at CNB along with having CNB facilitate their PPP loan in 2020. When an opportunity to purchase commercial real estate as office space for her small business, she did not hesitate to contact us for advice and information about financing.
The property was formerly retail space, and this female-owned law firm was looking for commercial office space in the same area. After reviewing the financials, commercial lender Dio Maranan, recommended an SBA 504 loan. The structure of the loan allowed the borrower to finance both the acquisition and build-out of the new office space with a low down-payment of 10%. This smaller down payment requirement helped the owner keep her working capital liquid and not tap into any retirement assets. Dio structured the deal in a 3-year fixed rate with interest-only payments for the first 12 months. An attorney by trade, this borrower applied the same level of scrutiny to every detail of the purchase transaction, including financing, as she does her legal cases. Dio addressed all of her questions and concerns with his over 30 years of banking expertise. He made himself accessible via text, phone, email and in-person meetings both in and outside of normal business hours to guide the borrower through the process, and he to tapped into his vast referral network to provide the borrower with recommendations for flooring, plumbing, and other vendors the owner-occupant needed to establish relationships with to get the job done.
CNB St. Louis Bank's Commercial Lending Team is ready to help you through all aspects of your business banking and financing needs - big or small; complex or simple. From financing options, deal structure, and local market knowledge to cash management and fraud prevention tools, we have the expertise to help your business thrive. We specialize in loans for family businesses, local businesses, franchisees, investment real estate, commercial real estate, manufacturing and distribution, owner operators, retail, and professional services.
All loans are subject to credit approval. Other rates, terms, and structures are available. CNB St. Louis Bank is an Equal Housing Lender.