The IL Bridge Fund Provides $300,000.00 In Funding to a Multi-franchise New Car Auto Dealership - (1888PressRelease) The IL Bridge Fund assisted a Multi-franchise new car dealer, turned down by traditional lenders, with the funding needed to expand their existing automobile business, and develop an additional business opportunity for the group which will impact the economic environment in Southern Ohio with new jobs and development.
The IL Bridge Fund Provides $300,000.00 In Funding to a Multi-franchise New Car Auto Dealership
By Alberto Stellpflug
Jun 17, 2010 - 4:28:17 AM
(1888PressRelease) The IL Bridge Fund assisted a Multi-franchise new car dealer, turned down by traditional lenders, with the funding needed to expand their existing automobile business, and develop an additional business opportunity for the group which will impact the economic environment in Southern Ohio with new jobs and development.
Using creative funding techniques and asset based lending, The IL Bridge Fund assisted an established Multi-franchise New Car Auto Dealership in Ohio to secure funding for expanding their existing business. This dealership was having trouble securing traditional lending in the current economic environment. The company needed the loan immediately to continue their operation. A loan would also provide the ability to move forward on another business opportunity that just came available allowing for further company expansion. The IL Bridge Fund funded $300,000 to the dealership, secured by a first lien position on the dealership's real estate. The real estate was lien free prior to the funding arrangement. This financing arrangement will provide the resources for the dealership to to create jobs and impact economic development in the area, both a key focus of The State of Ohio's Economic Development Department.
THE IL BRIDGE FUND is currently working with other existing automobile dealerships across the country to define and assess funding needs and provide the information and potential resources for those dealerships to expand or continue their operation.
THE IL BRIDGE FUND, an Ohio Limited Liability Company, is the funding source for Mid-market Emerging and Existing Companies and Real Estate Investors that have valuable marketable assets that can be used to secure an initial bridge loan (short-term). This approach to funding provides the time needed for companies to secure more permanent funding from an institution, or investment organization. THE IL BRIDGE FUND has funded millions of dollars in transactions to date.
For information call: The IL Bridge Fund, 513-429-4400
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