Briar Capital Real Estate Fund announced it provided two new real estate loans totaling $6.735MM secured by properties in Chicago and Los Angeles, to a market research company. Introduced to this business by a turnaround consultant, Briar provided the real estate financing piece of the transaction and worked alongside a national asset based lending firm who provided a working capital loan to close both loan facilities simultaneously.

After experiencing a significant decline in revenues for 2018, this 50+ year old company brought in an experienced turnaround consultant to help adjust expenses to better align with its lower revenues and find new real estate and working capital lenders. With a weakened balance sheet, tight cash flow, and having busted multiple loan covenants with their existing bank, the company's turnaround consultant turned to Briar Capital Real Estate Fund for less onerous, covenant free real estate financing solution.   

Using an asset based approach, Briar leveraged the company’s two real estate properties while a separate ABL Lender financed the company’s receivables, which together was used to pay off the incumbent bank. With the covenant free loan structure provided by Briar, the company was able to focus on its business as opposed to conforming to a list of traditional financial covenants imposed by banks.

With a singular real estate focus and the ability to make loans in all 50 states, Briar Capital Real Estate Fund is the preferred real estate lender of the asset based lending community. Contact Briar today (www.BriarCapital.com) and find out why many ABL lenders and others in the turnaround industry trust Briar Capital Real Estate Fund to handle all their real estate financing needs.