As a community bank, we take great pride in helping local businesses grow and thrive. Whether you are looking to buy a business, expand your business or refinance your existing debt, we can help. See the highlights below to learn about how we’ve helped out several local businesses achieve even greater success:
Company Type: Plastics Product Manufacturing
Funding Amount: $1,700,000 SBA Loan, $250,000 Express Line of Credit
Proceeds used for: Helping a minority owner buy out the majority owner. With limited cash for a down payment and required short-term working capital availablility, we were able to help the experienced operator purchase the business.
Company Type: Logistics and Containment
Funding Amount: $3.7mm 10-year SBA loan; $500,000 Line of Credit
Proceeds used for: Helping a key employee purchase 100% stock of the company. With no money down and a $3mm airball, the seller would end up with a majority of the company's working capital.
Company Type: Skilled Nursing Facility
Funding Amount: $1.4mm 25-year SBA 7a Loan, Line of Credit
Proceeds used for: Helping two doctors acquire failing a business from a bankruptcy trustee. Tight timing with a cash-offer lurking behind our borrower made negotiating hoops associated with bankruptcy transactions a challenge. However, the end resulted with 85 skilled nursing positions saved, alongside the facility!
Company Type: International Wholesale Distributor
Funding Amount: $1.6mm 25-year SBA 7a Term Loan, $580,000 permanent working capital
Proceeds used for: The client had less than 10% equity injection into the project, but wanted to grow. We helped the client accommodate 200% growth rate, with a successful SBA loan product!
Company Type: Compounding Pharmacy
Funding Amount: $525,000 10-year term loan, $100,000 line of credit
Proceeds used for: A client wanted to open her own startup compounding pharmacy, but had non-franchise startup and less than 10% to inject into the project.
Company Type: Equipment and Rental Leasing Company
Funding Amount: $2mm 10-year SBA Term Loan, structured seller's note, and $100,000 working capital line of credit
Proceeds used for: We helped the client acquire 100% of assets of Tool Rental & Sales Company, when the borrower had less than 10% to inject into the project and a $1.1mm collateral airball.
Company Type: Medical Products Wholesaler
Funding Amount: $4.9mm 10-year SBA term loan, $1mm working capital line of credit
Proceeds used for: Oxford Bank was able to provide funds for a partner buyout, when the client had $2.6mm negative net worth, only $6,000 in cash, and $3.3mm collateral airball.
Company Type: 98-Room Hotel
Funding Amount: $2.9mm 25-year term loan
Proceeds used for: Three business partners wanted to purchase a hotel that had an occupancy rate of 45%. The partners were new to the lodging industry, needed to close the loan in 90 days, and had 80% loan to value financing.
Company Type: Equipment Rental and Leasing Company
Funding Amount: $1.9 Million
Proceeds used for: Assisted with the acquisition of the company and provide for a smooth transition for the new ownership. This will allow the client to provide more flexible terms to their customers.
Company Type: Seal Coating & Construction
Funding Amount: $300,000
Proceeds used for: Acquisition of property and construction for new headquarters. Oxford Bank was able to quickly finance the acquisition and construction of a new headquarters for the company prior to the company’s peak sales cycle for 2016.
Refinance/Balance Sheet Recapitalizations
Company Type: Fast Food Franchise
Funding Amount: $2,700,000 Term Loan
Proceeds used for: The business owner consolidated short-term loans for various restaurant locations and provided new funds for equipment updates. With limited collateral and historic losses due to short amortization of loans, we successfully helped the business owner save more than $37M per month due to longer amortization and provided Treasury Management Services, including cash vault capabilities.
Company Type: Financial Services
Funding Amount: 5-year, fully amortizing term loan
Proceeds used for: The owner wanted to refinance his existing loans to provide a shorter amortization and lower fixed rate. With no tangible collateral to secure the loan request, we were successfully able to provide the owner with a term loan and Treasury Managment Services.
Company Type: Flower Shop
Funding Amount: $600,000 25-year SBA 7a term loan; additional $100,000 working capital
Proceeds used for: A local florist needed help surviving without a regional bank. The owner had three bank foreclosures between 2008 to 2010, and had an impatient workout specialist!
Company Type: Ready-Mix Concrete Supplier
Funding Amount: $1.8mm 10-year term loan, $150,000 line of credit
Proceeds used for: The borrower had limited equity to inject into the project, and had previous corporate bankruptcy. We helped the client re-capitalize their balance sheet, and purchase $400,000 worth of new equipment.
Company Type: In Store Merchandise Display Systems Company
Funding Amount: $2.2 Million
Proceeds used for: Included a SBA Loan to help recapitalize the client’s balance sheet, and a line of credit for working capital. This structure provided $1.2 Million in growth capital and over $9,000 in debt payment relief.
Company Type: Aerospace Tooling Company
Funding Amount: $1.3 Million
Proceeds used for: The client was able to purchase the building they are located in and refinance existing debt. In addition, this financing structure will allow the client to provide more flexible payment terms for its clients. Also the SBA loan structure will improve the client’s cash flow by more than $200k per year.
Company Type: Commercial Machine Service and Supply Company
Funding Amount: $1.5 Million
Proceeds used for: Consolidated and refinanced the client existing debt. The structure provided annual cash flow relief of more than $200,000, and allowed the client to pursue several recently awarded Domestic and International Opportunities.
Company Type: Machine Tool Contractor
Funding Amount: $750,000
Proceeds used for: Provided recapitalization of existing debt that will help the client adequately manage triple digit growth. In addition, this transaction will release our client’s dependency on expensive, private party financing.
Company Type: Automotive Supplier
Funding Amount: $1,350,000
Proceeds used for: Refinance of an existing $750,000 term loan utilizing the SBA 7(a) program on a 10-year repayment schedule. In addition, we provided a $600,000 conventional line of credit for working capital purposes.
Company Type: Physical Therapist
Funding Amount: $600,000 SBA loan
Proceeds used for: Purchasing and renovating real estate to expand existing operations. The Borrower had limited cash available for down payment, and there was tight timing due to an expiring purchase agreement and impatient seller. Oxford Bank was able to help the owner expand into a new, fully-renovated facility.
Company Type: Aerospace Tooling Company
Funding Amount: $940,000 20-year SBA 7a term loan; $375,000 working capital line of credit
Proceeds used for: The client owed $250,000 to the IRS, had poor liquidity, and a 13:1:0 debt to equity ratio. Not only did we help the client leave a regional bank (lender fatigue), bring the client current with the IRS, and helped them purchase a building!
Company Type: Commercial Screen Printing Company
Funding Amount: $830,000 25-year term loan, $100,000 7-year line of credit
Proceeds used for: The client only had 5% to inject into the project, and needed 95% loan-to-cost financing. Oxford Bank was able to help the client re-purchase the building via a short sale.
Company Type: Heavy Hauling and Logistics Company
Funding Amount: $4 Million
Proceeds used for: Provided financing for a 4.7 acre trucking terminal so the client could expand operations. The structured financing included both fixed and adjustable rate mortgage loans.
Company Type: Insulation Contractor
Funding Amount: $150,000
Proceeds used for: A working line of credit for $100,000 and a $44,000 loan to purchase additional equipment.
Company Type: Commercial Construction
Funding Amount: $1,150,000
Proceeds used for: A $650,000 Building Loan Purchase, $300,000 Construction Equipment refinance, and a $100,000 line of credit for working capital.
If you're a business owner in need of financing, please reach out to us to find out how we can help!