Nonbank lender funds $68.9MM in total project costs across 10 different states
FOR IMMEDIATE RELEASE
ORLANDO, Fla. (January 17, 2017) – Fountainhead Commercial Capital had an exceptional 2016. This privately owned and operated nonbank lender closed 20 commercial loans across 10 different states including California, New Jersey, Colorado, Texas, and Florida. The company continues to grow in popular demand with its SBA 504 loans and low loan-to-value conventional loans specialization. It not only financed $68.9 million in total project costs, but also created 208 jobs in the process.
Since the company debuted its one-of-a-kind approach to lending in May 2015, total funding to business owners has grown to $94.77 million. Fountainhead has quickly risen to be the leader in SBA 504 lending because of its ability to execute with excellence, lightning fast approvals and an unprecedented knowledge in this particular loan product. In 2016, clients across multiple sectors and states benefitted from their commercial loans, including $4.3 million for the acquisition of an office facility in Boca Grande, Florida; $8.5 million to refinance five industrial facilities in Green Bay, Wisconsin, for a general contractor; $1.6 million for the acquisition of a restaurant in Birmingham, Alabama; $8.2 million to acquire and renovate a commercial warehouse building in Costa Mesa, California; and $2.3 million for the construction of a karate and dance studio in Lake Mary, Florida.
"We have had a stellar 2016 and are looking forward to an even better 2017," said Chris Hurn, founder and chief executive officer of Fountainhead. "We fully expect to cross the $100 million mark by month-end (January) in only our 23rd month in business. Since our large [$23 million] capital raise in May 2016, we've been putting all the pieces of the 'puzzle' into place and are really launching Fountainhead to become one of the largest small business lenders in the country. 2017 is going to be a great year for our clients, our referral partners, and for us."
Fountainhead Commercial Capital provides clients with a "fanatical" standard of customer service, creating success for every client. The company specializes, nationwide, in SBA 504 loans (acquisitions, refinances, renovations or construction), SBA 504 interim second lien loans, and low loan-to-value conventional first lien loans.