Nebo Closes $1.8M Refinance for Non-Profit

Nebo Capital recently closed a $1.8M refinance for a non-profit in the San Fernando Valley.  The non-profit had an existing credit line against their property that was a hang-over from an expansion performed several years ago.  In addition to the typical challenges of financing a not-for-profit enterprise, like most non-profits they had experienced cashflow issues during the recession.  While their financial position had increased dramatically many lenders wouldn't entertain the deal.  Nebo quickly identified a lender that not only was able to understand the cashflow and the stronger financial position today but moved extremely fast and closed in 3 weeks.  This significantly reduced the borrower's cost of debt, converted floating credit into term debt with a locked low rate and allowed them to focus on their mission of providing social services to their community.