Location: Cicero, NY

Loan Amount: $750,000

Interest Rate: Prime + 2.50%

Term/Amortization: 25/25

Loan to Value: 75%

Purpose:  The SBA 7a loan was used expansion of an existing Marina and restaurant facility in Cicero, NY. The new financing facility allowed the sponsorship to take full advantage of their lake front property. The loan proceeds were used to complete the essential site improvements; acquire a mobile kitchen; upgrade the existing pontoon boats and jet skis; and provide enough working capital to finance the business operations during the six to twelve month ramp up period.