Fountainhead Closes $5.5 Million Hotel Project in Jacksonville, FL

Fountainhead 504SBA 504 Blog4 Comments

sba 504 loan

Across the nation the Hospitality industry is healthy with strong acquisition and ground-up construction opportunities all around. In fact, we are currently processing several hotel loans and expect to close at least four of these (totaling over $19 million) in the next 45 days for flagged properties in Illinois, Ohio and Michigan. More details as we close them, but right now, we are excited to announce our most recently closed deal… Fountainhead is proud to announce the closing of a $4,619,750 hotel loan for BDS Hotel Investments Inc. Our SBA 504 loan was used to acquire a 118-unit Country Inn … Read More

Can You Finance Heavy Equipment with an SBA 504 Loan?

Fountainhead 504SBA 504 Blog4 Comments

Although SBA 504 loans are primarily used for financing owner-occupied commercial real estate, the program does allow, in certain circumstances, for the acquisition of heavy equipment with a useful life exceeding 10 years. In fact, we have just closed such a loan! Fountainhead is proud to announce its most recent closing, a $1,303,925 loan used for the acquisition of heavy equipment by Natstone, LLC, a manufacturer of thermal bluestone. Natstone, located in Montrose, PA., acquired the necessary equipment needed to mine, treat, and ultimately manufacture natural stone products for patios, walkways, building facades, landscaping and pool decks. The equipment acquired … Read More

Fountainhead Fridays: Why Some Lenders are Like Teenagers in Horror Movies…

Fountainhead 504SBA 504 Blog0 Comments

We’re deeply sorry you missed our Fountainhead Friday blog post last week.  Call it “Fountainhead Fatigue.”  We’ve been so busy lately, it simply slipped our collective minds until it was too late in the day.  Hopefully it won’t happen again. We just approved our latest loan for $4,354,000, so we’re now up to $20,768,000 in commitments and/or closings in the past 60 days or so, if you’re keeping score.  And we’ve got another $10,160,000 going to our credit committee early next week.  Poor Matt.  He closes our loans, and he’s about to become the most fatigued Fountainheader of us all… 😉 … Read More