GRP Capital is pleased to announce the closing of a gas station construction loan in Miami-Dade County. The proposed development will consist of a gas station and retail unit mix.
The GRP Capital team secured a fully amortized, 25-year permanent loan for the borrower. In addition, the loan proceeds included working capital and closing costs. The developer was referred to GRP from from a past project.
GRP’s Managing Director, Krishan Patel stated, “We are pleased to have closed this development loan, not only because of the community impact it will have, but because this closing proves that lenders ultimately have a positive market outlook.”
During the recent economic downturn, the strength of our lending relationships is more important than ever. The GRP Capital team specializes in finding the right lender for each project. We save our clients time and provide options, as we research and connect to different funding sources.
Closing this loan demonstrates GRP’s ability to secure funding for business owners even in these uncertain economic times. To be sure, business conditions are experiencing a “new normal”. However, business loans post-COVID 19 are possible under the right conditions.