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Maxim Commercial Capital Funded 927 Deals in 2018

February 01, 2019, 07:10 AM
Filed Under: Company Announcements

Maxim Commercial Capital announced it funded 927 hard asset-secured loans for small and mid-sized businesses (SMBs) during 2018, a 6.3 percent increase over the prior year.

The transactions facilitated heavy equipment purchases, refinanced high-cost debt and funded bridge loans and working capital for business expansion. Maxim provides financing in amounts up to $3 million secured by heavy equipment and real estate, including second and third liens on residential, multifamily and commercial properties.

“The best part of our job is learning about a prospective borrower’s goals so we can help transform them into reality,” said Michael Kianmahd, Executive Vice President. “The process may involve identifying additional collateral owned by the borrower to backstop a loan, or helping a newly licensed truck owner-operator figure out how much he can afford in monthly payments on his loan.”

The largest transaction Maxim funded during the year was growth capital for a startup music licensing company with negligible revenue. The family-owned business had been turned down by multiple banks due to one partner’s tax issues from the sale of an unrelated business. Maxim quickly identified sufficient equity in a New York condominium owned by family members to secure the financing they needed, and successfully funded the loan in a timely manner.

The smaller transactions funded during the year facilitated Class 8 and Class 6 used truck purchases by owner-operators with challenged credit. A national leader of used truck financing, Maxim provides same-day approvals.

Other highlights for Maxim during 2018 included moving to a larger office, expanding the team from 26 to 29 members and launching a new, comprehensive website. These activities will support the company’s continued growth in 2019, its 10th anniversary year.

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