Pioneer Services, LLC
Pioneer Services, LLC, a leading Texas based Commercial Mortgage Intermediary, has closed a $2,450,000 conventional (non-SBA) loan on the Primrose School of Shady Hollow located in Austin, TX. The new loan liberates the school from its current Small Business Administration obligation thus freeing up the eligibility needed to finance a second school under the SBA 504 program.
The Pioneer Services, LLC team canvassed its network of capital partners and quickly obtained extremely favorable financing for this premier educational child care center. Through its relationship with a local bank, Pioneer Services, LLC secured a loan for its client of $2,450,000 for 5 years on a 20 year amortization schedule at a fixed rate of 7.07% on a full-recourse basis.
Charles Williams, Managing Director of Pioneer Services, LLC said, “While arranging funding for high leverage non-SBA loans is virtually impossible these days, we were confident that we could make this deal happen. It was just a matter of finding the right lender for this borrower.” Mr. Williams went on to say, “I am happy to report that both the lender and my client were pleased with Pioneer Services’ delivery on this transaction.”
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