[aak723]

Startup pharmacy.
700 scores
Austin, Texas


My borrower was previously qualified for a SBA 7a construction loan in 2020. As covid took course, they ordered (as mandated by the SBA) $150K in engineering costs and took that as a write down resulting in losses in 2020. The lender subsequently cancelled the loan as the turn around time was taken too long to build in Austin.

They are operating and own the land through a land loan. They now want to build on top.

I can likely do a SBA take out once built but having a tough time getting this through a 7a approval (either that or I have found some lazy u/ws).

Please note: Meridian and Windsor are non starters. Looking for someone who knows the ground up commercial construction field to partner with on this opp.

[abfunders]

You left out an important detail: How much money do they need to get the project finished?

[aak723]

You left out an important detail: How much money do they need to get the project finished?

Current land loan is $150K
Need another $600K to finish