Meridian Bank Closes SBA Loan for NJ Liquor Store

Meridian Bank's SBA Lending Team closed a $1,100,000 SBA Loan for a borrower to purchase a turn-key liquor store in Trenton, NJ. The SBA loan was structured with a fully-amortizing 15-year term and financed 80% of the commercial real estate and business asset purchase, inventory, closing costs, and initial working capital requirements.

The buyer had a challenge obtaining the financing for the acquisition because the bulk of the purchase allocation was for the business assets and inventory. As such, many banks were limiting the loan to a 10-year amortization even though there was real estate involved. Meridian Bank was able to use a blended SBA term which gave the buyer a much better cash flow opportunity for the acquisition and was key to making everything work.

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, VP Senior SBA Loan Officer - 484.395.2063 | [email protected]