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Stonebriar’s NonBank Lender Provides CRE Financing Utilizing SBA’s 504 Program

July 28, 2017, 07:08 AM
Filed Under: Real Estate

NonBank Lender, a Stonebriar Commercial Finance company, provided $501,759 of real estate purchase financing utilizing the SBA's 504 Loan Program.

NonBank Lender ("NBL") has completed the financing of a 20,100-square foot Industrial Warehouse facility in Redlands, California. The subject property will enable the borrower, a heating and airconditioning installation and service company, to meet growing demand.

NBL partnered with Plaza Bank and Pacific West CDC to fund the SBA 504 project. Curtis Valenzuela, NBL's President, stated, "We enjoy working with both Plaza Bank and Pacific West CDC as each lender shares our commitment to delivering for our clients. Strong coordination with all parties ensured that the borrower would experience a smooth closing and funding."

Jeremy Osaki, Pacific West CDC Vice President, added, "We are excited to be working with NBL in successfully funding another SBA 504 Loan. We and NBL speak the same language and share a common focus in the SBA 504 loan program."

With the capital resources now provided by Stonebriar, NBL has greater flexibility and surety of execution; evidenced by the fact that NBL served as the source for the 2nd Lien Interim Loan. According to Stonebriar CEO Dave Fate: "While removing size limitations to our funding ability is important our teams expertise in the SBA 504 Loan program truly sets us apart. Curtis' and his team are changing the way clients access financing."

Joel Matthews, NBL Loan Officer added, "Our focus on the SBA 504 Loan program allows us to understand and deliver both Interim Loan and Complete Financing options for Borrowers. This project is simply another example our ability to deliver on time a product that Borrowers want."

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