Lessons from the SBA Loan Program Shutdown

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Last week, the U.S. Small Business Administration shut down its 7(a) loan program again, leaving thousands of small business owners scrambling to finance a wide range of business projects.  This shutdown (the fourth since I’ve been in small business lending) was swiftly overturned, as Congress approved an increase in the 7(a) program cap to $23.5 billion for the remainder of this current fiscal year.  That’s $4.75 billion more than the current ceiling that had effectively been hit, necessitating the shutdown.  President Obama quickly signed the bill into law.  Crisis averted.  Or is it? More than 11 years ago, I first … Read More

Why I’m Traveling to the Countryside on My Friday Night…

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In these “Dog Days of Summer,” I wouldn’t normally blog something so personal, but I think it’s warranted here and hopefully worth your couple minutes of review. Like me, you probably have people in your life who don’t often get the recognition they deserve. The people who do some of the “un-glamorous” work. Well, I’ve had someone effectively manage my company database for over 11 years, and I can unequivocally say that isn’t terribly glamorous work. She did so with my former company, and I’ve managed to have her working part-time with us here at Fountainhead since nearly the beginning. … Read More

Fountainhead Closes $8.2 Million Hotel Deal in Urbana, IL

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We started last week by closing a terrific hotel loan in Illinois on Monday morning, one of several hospitality deals we have in our pipeline currently.  The hospitality industry is thriving and Fountainhead  is taking advantage of the many opportunities presenting themselves in multiple states across the nation. Let us know how we can help you and/or someone you know by contacting us at:  info@FountainheadCC.com today.  But, for now, let’s focus on the specifics of the deal we just closed… Fountainhead is proud to announce the closing of a $6,818,124 hotel loan.  Our Fountainhead 504 loan was used to acquire … Read More

Fountainhead Closes $5.5 Million Hotel Project in Jacksonville, FL

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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?

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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…

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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

Fountainhead Closes Loan for Site Solutions of Central Florida

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Fountainhead Commercial Capital Closes Loan for Site Solutions of Central Florida; Woman-Owned Construction Company Purchases Orlando Building for $515,000 Fountainhead Commercial Capital closed its first loan earlier this month, financing the purchase of a 5,000-sf building and lot for Orlando construction company Site Solutions of Central Florida. The woman-owned company took advantage of low interest rates and favorable terms offered by Fountainhead and the SBA 504 Loan program, which provides financing for the purchase of fixed assets, such as real estate, buildings and machinery. “Though we operate nationwide, we are proud that our first loan closing involved a fine company … Read More

Why Being a Specialist is Most Beneficial for You…

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Over the years, my thinking regarding “experts” has evolved. I once believed that becoming an expert was a worthy goal and hiring an expert was a smart business decision. Not anymore. As someone famously once said, “An expert is someone who can tell you exactly how something can’t be done.” But as we both know, doing the impossible is how progress happens. Don’t give me a “No,” try to help me get to a “Yes.” Every breakthrough, every accomplished dream, and every achieved milestone was just an impossibility the day before it happened. Progress doesn’t come from the naysayers, it … Read More

Home Sweet Home

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After a couple of weeks of traveling, the Fountainhead Team is happy to be home and excited about pursuing new opportunities and relationships developed during recent travels. Knowing that being involved in our trade organizations is always beneficial to our Company, we recently attended the NAGGL Conference in San Antonio and most recently, the NADCO Summit is Washington, D.C. We exhibited at both conferences so it was a great opportunity to not just see old friends and colleagues, but also to meet many new ones as well. Washington, D.C. was especially interesting as we lobbied for support of the SBA … Read More

Wall of Loan Maturities to Challenge Small Business Owners

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If you haven’t yet heard about the “Wall of Maturities” in the commercial mortgage market, you will soon. Between now and 2017, more than $300 billion in commercial real estate loans will mature and need to be refinanced. This represents more than 2.5 times the amount that matured from 2012 – 2014. It’s significant because while the overall economy has improved, traditional commercial lenders have continued to hold tight reins on lending requirements. These commercial loans coming due were originated before the real estate bust and Great Recession. When I first heard about the Wall of Maturities, I thought this … Read More