$495,000 FUNDED / SBA
LAN TRAN – HOUSTON, TX
Lan and her husband owns a lot of business: nails salons, restaurants, washateria, several rental properties and Commercial that have cash flows daily and monthly.
One day, they called and visited our office. We helped her to purchase a big nails salon here in Houston, the annual sales was $1.6M and sold for $635K.
The loan process was about 2 months since our bank approved, ordered an appraiser came to took some pictures of the salon and verify the business access, the underwriter team worked on the tax returns, verify income and the legal team have all the loan docs ready.
Our closing went fast. Our bank transferred the fund directly to our borrower’s attorney and from there, funds were sent to the seller and our borrower for their cash flow reserves.
Lan was so glad that we made it for her. She paid the loan off in 1 year only with our term offered was 10 year. Lan became our VIP clients, every time she calls for help in any loans: Rental, Commercial or business purchase, we are here for her.