Funding Secured: 5 Examples of Commercial Loan Success To Keep You Motivated

The commercial loan process can be a challenge, to say the least. Through the endless paperwork and the constant back and forth with lenders it can be difficult to stay motivated. 

Still, everyday commercial loans go through and it doesn’t help to get down during the process.

With that in mind, today I want to discuss five commercial loan successes to keep you motivated. 

Advanced Pharma

Houston, TX

SBA 504 Loan: Amount Undisclosed

Advanced Pharma is an FDA-registered 503B outsourcing company that provides compounded products to hospitals and other health centers nationwide. Back in 2012, Advanced Pharma had outgrown its 35,000 sq. ft. lease, and wanted to expand. Their CEO, Bourjois Abboud decided it was time to buy their own building to reduce rental expenses.

He took out an SBA 504 loan and was able to buy the building he used to rent, plus the adjoining building. Now, Advanced Pharma has increased revenue by over 40% and added 20% more staff.

The SBA loan process for small businesses can be difficult, but when it’s all said and done, the results speak for themselves. 

Ramada Plaza Riverside Hotel

Casper, WY

Loan Value: $4,738,450

The Ramada Plaza Riverside Hotel in Casper, Wyoming was in need of some serious renovations in 2019. It had been seven years since a smaller $1.8 million renovation took place on the over 40-year-old hotel and the place needed another facelift. 

In order to get the cash to make these renovations possible, management took out a $4,738,450 commercial construction loan. The renovations are underway as we speak, saving the hotel’s future prospects in the small town of Casper.

Prairie Creek Beverages

Dallas, TX

SBA 504 Loan Value: $200K

In 2013, Michael Howard started Prarie Creek Beverages and the company met almost immediate success. Growing revenues some 600% after their first year in business. Still, due to weak profitability, Mr. Howard found it difficult to find a loan to expand his business.

Thankfully, he was able to land a $200K SBA 504 small business loan from a private company to keep his operations expanding. After that, Prarie Creek Beverages continued its impressive growth trend before a 2016 merger with Southwest Distillery & Winery. The combined entity continues to thrive today. 

Southern Outdoor Power

Monroe, LA

SBA 504 Loan: Amount undisclosed

Micah Hogan started Southern Outdoor Power back in 2010 as a pure e-commerce platform for sales of Bad Boy Motors. As we all know though, in business things can change quickly. For Hogan, his e-commerce business quickly turned into a brick and mortar retail store with accompanying servicing facilities. 

Hogan needed an SBA 504 loan to help continue his business’ expansion. After receiving his loan, Hogan chose to build a new store which he called Yard Power. The company is thriving to this day in its brand new location.

SpringHill Suites

Marina, CA

Loan Value: $ 15,500,000

This year Harbhajan Dadwal realized a significant dream by building a 104-room Marriott Springhill Suites Hotel in Marina, CA. He was able to do this only because of help from AVANA Capital, which included $15.5 million construction loan. 

Dadwal said of the development:

 “This is my dream—to build a hotel in the Monterey area,” said Dadwal. “It’s the first time I’ve put my own ideas and experience to work. I’ve never worked with people like AVANA Capital—they have been so patient and helpful. I was talking to local banks, but someone told me about AVANA and I’ve had a great experience. I would definitely work with them again in the future.”

It can be difficult to stay motivated during the, at times, lengthy commercial loan process, but success will come. When it does, like Dadwal you will be one step closer to making your dreams a reality and all that effort will have been more than worth it.

Don’t get down when banks turn you down for loans, instead look to private lenders and utilize all the options at your disposal. Commercial loans can be frustrating but don’t fear, private lenders make things easy these days.

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