Fountainhead Commercial Capital Finances $346,000 Purchase for Miami Coach & Tours
Fountainhead Commercial Capital announced their closing of a $346,000 loan to finance the purchase of the new headquarters for Miami Coach & Tours, a growing charter bus and tour company now based in Miami Gardens.
Maitland, FL, August 20, 2015 (Newswire.com) -
Fountainhead Commercial Capital recently announced that it closed a $346,000 loan to finance the purchase of the new headquarters for Miami Coach & Tours, a growing charter bus and tour company now based in Miami Gardens. Miami Coach & Tours took advantage of the low rates and favorable terms for owner-occupied commercial real estate offered by Fountainhead and the SBA 504 loan program. The company's new facilities, located at 16280 NW 27th Avenue, offer room for growth and added security.
Miami Coach & Tours has six full-sized coach buses, and one mini-bus, enabling it to provide premier bus services to corporations, churches, school districts and travel groups among others. Fountainhead funded the purchase with a $173,000 1st mortgage and $138,400 interim 2nd mortgage under the SBA 504 loan program.
"Miami Coach & Tours is a true entrepreneurial success story, and we are pleased to be a part of it," said Chris Hurn, Fountainhead CEO. "Murcel and Sultan Cevik first came to the United States in 1999 and began driving city and county buses before striking out on their own in 2005. In 10 short years, they have realized an American dream of owning their own commercial property."
The 2,304-sq-ft building sits on a 31,363-sq-ft lot and adjacent 20,602 ft. parcel, previously owned by seller G and M Properties, Inc.
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 FastTrack 504™ program enables banks and credit unions to fully outsource SBA 504 loans for owner-occupied real estate. More information is available at www.Fountainhead504.com or by calling 800-770-1504.