Jerry Freedman Of Freedom Business Financing Facilitates $1.287M Loan For Industrial Purchase In Brooklyn

The property involved in this transaction is located at 1786 Coney Island Avenue in Brooklyn. It is categorized as an industrial asset with a square footage of 2,756. The loan amount secured for this acquisition was $1,287,000.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $1,287,000
• Loan Type: Acquisition
• Loan Terms: Owner-user light industrial flex space purchase financed through the SBA 504 program with a low 10% down payment
• Lender: Regional Business Assistance Corporation (RBAC)
• Loan Broker: Jerry Freedman - Freedom Business Financing

Jerry Freedman from Freedom Business Financing assisted the buyer in securing financing with a bank providing 50% of the funds on a 25-year amortization at a 5-year fixed rate. The SBA covered the remaining 40% through a fully amortizing 25-year second mortgage at a fixed rate. The firm specializes in helping entrepreneurs and business owners secure SBA 7(a) and 504 loans for various financial needs.