Rancho Dominguez, CA, July 29, 2016 --(PR.com
)-- Fountainhead Commercial Capital announced it recently closed a $4.44 million office/warehouse project, financing the purchase of a new headquarters for Pacific Capro Industries dba Capro Industries. The 35,000-sq-ft building sits on 1.44 acres at 3128 East Harcourt Street. Capro, a wholesaler of high tech packaging and shipping materials, financed the project using an SBA 504 loan.
Fountainhead provided the $2,240,3330 1st Deed of Trust loan and the $1,756,000 second Deed of Trust loan, enabling the borrower to acquire the property and building with attractive, long-term fixed interest rates at approximately 90% loan-to-cost financing. In the next couple of months, the SBA is expected to take-out the Fountainhead interim loan. The SBA 504 loan program provides financing for the purchase of fixed assets, such as real estate, furniture and fixtures for owner-occupied real estate.
"Capro Industries was a perfect candidate for an SBA 504 loan as the company is growing, adding jobs and providing great service to its customers," said Chris Hurn, CEO of Fountainhead. "The company now enjoys a larger space with room for growth and will enjoy the many benefits of owning vs. renting commercial property."
Capro Industries is a wholesaler of bulk bags, with certifications to handle bags as technical as food and pharmaceutical grade products, and flexible packaging since 2001. Products include flexible intermediate bulk containers (FIBCs) or bulk bags that can load up to 40% more compared to products stored in drums; shipping sacks reducing handling and packaging materials; bi-axially oriented polypropylene (BOPP) sacks; stand-up pouches; liners; flexible films; and handling equipment. The business provides quality customized packaging solutions for meeting customers’ diverse needs.
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.