Pioneer Financial Group, LLC recently placed financing in the amount of $750,000 on behalf of Flexwit, LLC. The borrower leveraged an existing portfolio of properties to retire debt and fund working capital. Managing member Sean Jasie worked with Jason Ganem of the Manchester, N.H. office of Pioneer.
Pioneer worked with a private lender in securing the $750,000 refinance facility for the portfolio. The note has a 12-month term with a floating interest rate. The closing took approximately 14 days to complete from request to funding.
The properties are a mix of residential apartments and commercial properties, encompassing a three-block radius. The borrower needed funds quickly and was willing to pledge additional collateral so long as the closing occurred quickly.
"Speed and a flexible structure were the keys to this successful transaction. The borrower needed to close ASAP and we have a dependable source of private equity available for fast closings," said Jasie.