44 Business Capital LLC recently structured an $11.8 million loan for the purchase of a 400,000 square foot manufacturing plant in Bensalem, PA. A family owned business for over 20 years, TC Millwork is a full service manufacturer of store fixtures and architectural millwork with disciplines in wood, metal, acrylic, and other plastic composites. TC Millwork is the innovator of SMARTWALL, a low voltage display system that can be configured and manufactured to meet merchandising needs. Retail clients include Pier 1 Imports, Clark Shoes, and David’s Bridal.

Greg Poehlmann, 44 Business Capital President, said “In this case, TC Millwork occupied a 400,000 square foot building in Bensalem, PA. Facing a dramatic rent increase, the principals decided to purchase the property. The purchase price was $11.8MM, and 44 was able to structure financing where the borrower only had to contribute 10% in equity. This allowed them to retain more cash in their operating company giving them needed working capital for their business. The principals of TC Millwork now own the real estate in which they operate, thus providing greater certainty and stability for the future.

“This is the first time I have been involved in as complicated and large a deal. My decision to go with 44 Business Capital was that they were the most competitive of the group of four, and equally transparent in the deal. They walked us through every step of the way and I have already recommended a vendor of ours to 44 Business Capital.” said Dennis Kubach, owner of TC Millwork, Inc.

44 Business Capital is a subsidiary of Parke Bank which is a preferred SBA lender serving Philadelphia, Pennsylvania, New Jersey, Delaware, Baltimore MD, Northern VA, Washington DC.