Pompano Beach, FL, January 13, 2016 --(PR.com
)-- Fountainhead Commercial Capital recently announced that RPM Motors of Space Coast Corp. purchased a 10,000-sf warehouse and office building for $800,000. The building will house the growing online retailer's inventory in Pompano Beach. Operating under www.24hrsdeals.com, the company sells a wide array of consumer products, such as beauty products, electronics, grocery products, home and kitchen products, patio and garden products, pet supplies, outdoor supplies, and toys. The company sells tens of thousands of products online each month, and shipped through its South Florida location.
Fountainhead provided the $555,500 1st mortgage and the $444,400 interim 2nd mortgage including more than $270,000 in renovation costs and equipment. Owners took advantage of the low rates and favorable terms for owner-occupied commercial real estate offered by Fountainhead and the SBA 504 loan program.
"24hrsdeals.com is tremendous company with impressive sales growth and an incredibly experienced management team," said Chris Hurn, founder and CEO of Fountainhead. "The executives made a smart financial decision to buy their building and will benefit from the wealth creation power of the 504 program."
Fountainhead Commercial Capital, a nonbank lender specializing in the SBA 504 loan program, was founded by some of the most experienced and awarded SBA 504 lenders around. The company's FastTrack504™ program enables banks and credit unions to fully outsource SBA 504 loans for owner-occupied real estate. More information is available at www.Fountainhead504.com or by calling 800-770-1504.