Fountainhead Commercial Capital Finances $8.1 Million Acquisition for 24 Carrots Restaurant Group
Costa Mesa, CA, August 10, 2016 --(PR.com
)-- Fountainhead Commercial Capital recently announced it financed the $8.1 million purchase of an office warehouse for leading catering company 24 Carrots Restaurant Group, LLC. Sitting on 2.14 acres at 150 East Baker Street, the building will be expanded to more than 45,000 square feet to meet the growing demands of the caterer which serves all of Southern California.
Fountainhead provided both the 1st and interim 2nd deeds of trust as part of this SBA 504 project, enabling the borrower to acquire land and building with attractive, long-term fixed interest rates at approximately 90% loan-to-cost financing. The SBA 504 loan program provides financing for the purchase of fixed assets, such as real estate, furniture and fixtures.
"Mr. Bennett and his incredible team at 24 Carrots have built a business on quality products, incredible service and great decision-making," said Chris Hurn, CEO of Fountainhead. "We are pleased that they once again did their homework and chose the SBA 504 program as a way to build their business and create jobs through the ownership of their commercial facility."
24 Carrots is a full-service catering and events company that creates weddings, social gatherings, and corporate events by placing a strong emphasis on personalized customer service. The company offers unbelievably delicious food, unsurpassed personalized service, and a genuine passion for helping people make unforgettable memories together. More information at www.24carrots.com.
Fountainhead Commercial Capital, a nonbank lender specializing in the SBA 504 loan program and low loan-to-value conventional loans, was founded by some of the most experienced and awarded SBA lenders around. The company's FastTrack 504™ program enables banks and credit unions to fully outsource SBA 504 loans for owner-occupied commercial real estate. More information is available at www.Fountainhead504.com or by calling 800-770-1504.