Metro Funding Corp. (MFC), a private asset-based lender, headquartered in Paramus, N.J., announces the funding of a $1,300,000 loan for the refinance of two restaurants in Larchmont, New York and a Strip Mall Center in Jupiter, FL.

The borrower approached MFC with the need to pay off delinquent property taxes on a Strip Mall Center he recently inherited. These delinquent taxes needed to be paid off quickly before the property would be put up for auction. In effort to save this property, MFC tried to be as creative as possible and requested additional collateral. The borrower was able to provide two operating restaurants in Larchmont, NY. “Although many businesses are staying afloat in today’s difficult economy, conventional banks are unable to provide funding in the time needed to satisfy borrowers. MFC remains stable, though, and is able to fund quickly, giving borrowers the opportunity to continue running their businesses smoothly,” says Senior Underwriter, Jason Lasser. By providing the additional two restaurants, MFC was able to aid in paying off the delinquent taxes in time to save the property. The borrower continues to be a proud owner of the Strip Mall Center and is running both restaurants in Larchmont successfully.

Metro Funding Corp., headquartered in Paramus, NJ, is a commercial real estate lending company specializing in asset-based opportunity (hard money) loans. Metro Funding Corp. provides loans globally to corporations unable to obtain financing from conventional sources due to the immediacy or complexity of the transactions.

Web site: http://www.metrofundingcorp.com/

Related Articles

Venture Finance Announces New Approach To Factoring

The Wornick Company Completes $45 Million Refinancing

iControl Networks Raises $23 Million in Series C Funding

1st Enterprise Bank Grows to $310 Million in Total Assets

Cassiopae & Capgemini Expand Partnership

Posted: 07|17|09 at 4:46 pm. Filed under: Business.