Location: Urbandale, IA

Loan Amount: $1,650,000

Interest Rate: Prime + 2.50%

Term/Amortization: 25/25

Loan to Value: 91%

Purpose:  The acquisition loan was for an owner-operated ice arena located in Des Moines, Iowa. The sponsorship entered in to a lease-option to purchase the property a number of years back, but was unable to find traditional capital sources to close the transaction. Arriba structured a creative financing solution that included a combination of an SBA 7a loan and a seller-subordinated debt.