SC Capital Partners, Inc. has just completed a $2.3 million real estate loan for Doffo Auto Body of Santa Ana through Hanmi Bank of Los Angeles utilizing a government guaranteed SBA 7a loan.
It was a complex process because the loan’s collateral covered multiple properties with sub-tenants. The financing package included several years of financial data which SCCP assisted the client in reformatting to comply with general accepted accounting standards transferring information from tax to accrual basis.
Because of the complexity of the deal and the poor quality of financial reporting, the borrower had been turned down by several major banks before SC Capital was engaged. Doffo Auto was successful in acquiring the funds it needed because SC Capital went that extra mile for a client that needed both special handling and financial expertise.
The principals of Doffo Auto Body were so pleased with what SC Capital was able to do, that they engaged us to help them get a new line of credit for the business, which should be funding later this month, and to refinance another commercial property that had private financing.