SG Credit Partners provided a $1.25 million debt facility for a real estate acquisition.

The Company: A single-asset real estate holding company owned by a prominent carwash company in the Midwest. The carwash company is just one subsidiary of a broader investment company with interests in a multitude of industries.
 
The Financing Situation: The Company had an executed purchase agreement on a property that it intended to acquire and construct an expansionary carwash location under its existing brand. The Company needed 100% upfront debt financing to close on the acquisition quickly and working capital for the entitlement process before seeking construction financing.
 
The Solution: SG underwrote the real estate as well as the personal guarantees of the two founders, who maintained significant outside personal liquidity as well as equity in various real estate and business holdings. The strong personal balance sheets of the guarantors allowed SG to be aggressive with its advance rate on the real estate collateral (>100% LTV when including additional working capital provided) and SG's capital was non-dilutive.