Meridian Bank Closes SBA Loan for CRE Purchase in Southern Chester County

Meridian Bank's SBA Lending Team closed a $400,000 SBA Loan for a local family-owned telecommunications company to purchase Commercial Real Estate in southern Chester County. The mortgage loan was structured with a fully-amortizing 25-year loan term and financed 90% of the real estate purchase, closing costs, and funds for working capital. Additionally, the Bank was able to provide the Borrower with a line of credit for on-going working capital needs as well.

The business owner was in need of a new space with excess land in order to accommodate his growing business needs. The primary challenge for him was the down payment required for a typical conventional commercial mortgage; however, the SBA program allowed him to purchase the property with a down payment amount which was palatable for him and his business.

Meridian Bank is an SBA Preferred Lender ("PLP") and consistently a top-ranked lender in the Tri-State Region. They are actively lending on Real Estate Purchases and Refinances, Business Acquisition and Partner Buy-Outs, Equipment Purchases, Debt Consolidations, Working Capital Needs, etc. Their loan products provide highly-competitive rates, low closing costs, and a streamlined closing process with their experienced team.

For more information about Meridian Bank and their SBA lending program, please contact:

Paul Avery, RVP & SBA Loan Officer?- 484.395.2063 |[email protected]