Fountainhead Commercial Capital Finances $1.55 Million Luxury Car Dealership
Philadelphia's Feretti Motors uses SBA 504 loan program to own instead of rent
Philadelphia, PA, February 10, 2016 (Newswire.com) - Fountainhead Commercial Capital recently announced it financed the purchase of a luxury pre-owned automobile dealership property by M&D Motors, Inc. dba Feretti Motors. The property, including 31,870-sf office and service center on 3.74 acres, is located at 10094 Sandmeyer Lane. Feretti Motors in Philadelphia exercised a lease option to purchase the facility for approximately $1.55 million from RMF Associates. The owners took advantage of the low rates and favorable terms for owner-occupied commercial real estate offered by Fountainhead and the SBA 504 loan program.
Feretti Motors is a full scale automotive sales dealership and automotive repair facility which specializes in the sale of reconstructed and salvaged vehicles. Feretti Motors also offers retail automotive repair services to the general public and engages in the wholesale of both reconstructed and clean-titled automobiles to other automobile dealers both directly and through automotive auction houses. Feretti Motors offers automotive shipping and shipping brokering services to customers globally.
"When we talk about SBA loans, we normally don't think about online retailers of cars from Audi, BMW, Cadillac, Land Rover and Mercedes," said Chris Hurn, founder and CEO of Fountainhead. "Smart business owners, whether they are in the luxury category or not, save money and improve their bottom line when they choose to own vs. rent, and when they use our SBA 504 loan program."
Fountainhead Commercial Capital, a nonbank lender specializing in the SBA 504 loan program, was founded by some of the most experienced and awarded SBA 504 lenders around. The company's FastTrack504™ program enables banks and credit unions to fully outsource SBA 504 loans to Fountainhead so they simplify the SBA process for their clients and deal with specialists, while earning referring lenders non-interest (premium) income. More information is available at www.Fountainhead504.com or by calling 800-770-1504.