Location: Latrobe, PA

Loan Amount: $1,300,000

Interest Rate: Prime + 2.25%

Term/Amortization: 25/25

Loan to Value: 70%

Purpose:  Due to criminal fraud by the previous owner, the company was forced in to Chapter 11 Bankruptcy.  The $1.3M loan, priced at Prime plus 2.75% (6%), was broken up in to three separate credit facilities, which included; a $200k SBA Cap Line, a $800k 10-year term note, and a $300k 25-year term note. These three credit facilities provided the client with enough capital to payoff the secured creditors and enable the company to successfully emerge from bankruptcy