Fountainhead Commercial Capital Closes $23.52MM in Total Projects During Third Quarter of 2016
Orlando, FL, November 10, 2016 --(PR.com
)-- Fountainhead Commercial Capital, a privately owned and operated nonbank lender with a specialization in SBA 504 loans and low loan-to-value conventional loans is continuing to have a stellar 2016. During its third quarter - the first full quarter of operations since their second round capital raise – the company closed $23.52 million in total projects across three states for five different businesses. With the structuring of its loans which offer lower down payment, below-market fixed interest rates and longer terms, Fountainhead has been able to create and retain an estimated 120 jobs just this quarter.
Numbers are expected to increase substantially in the coming months. Recent successes include the company financing the $8.1 million purchase of an office warehouse for leading catering company, 24 Carrots Restaurant Group LLC, and financing the purchase of a new headquarters for packaging manufacturer, Pacific Capro Industries – both projects are based in Southern California.
"We have had a fantastic third quarter," said Chris Hurn, chief executive officer of Fountainhead. "Our clients know that with Fountainhead they can expect speed, expertise and common sense decisions. At Fountainhead, we lead with the best product, and we strive to be the best at deploying it for our borrowers. This is our first full quarter of operations since our $23 million capital raise in early May and also since we announced that we're lending nationally. We are looking forward to an exciting fourth quarter with many more closings to help America's small business owners create wealth and spur job creation."
Fountainhead Commercial Capital offers clients personalized services and responsiveness. The company specializes in SBA 504 loans, interim SBA 504 second lien loans, SBA 504 construction/renovation loans and low loan-to-value conventional loans nationwide. Individuals interested in an SBA 504 loan can learn more here: http:// www.fountainhead504.com/apply-today/.