FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
Skip Navigation LinksHome / News / Read News


Briar Capital Real Estate Fund Closes $1MM Real Estate Loan to Manufacturer of High Precision Cutting Tools

September 07, 2022, 05:00 AM
Filed Under: Manufacturing

Briar Capital Real Estate Fund ("Briar") closed a new $1 million real estate loan facility to a Detroit area manufacturer of high precision cutting tools used across multiple industries around the country.  
After a rough 2019 which saw them lose considerable market share, the pandemic happened which brought this cutting tool business to a screeching halt. While others did not, this company adapted and successfully navigated the COVID waters only to be dealt with another blow just as they were beginning to see the light at the end of the proverbial tunnel. Their bank of over 20 years wanted to exit their loan and asked them to find a new mortgage lender. Enter Briar.
Briar was brought into this transaction by a traditional asset-based lender who, like most, prefer lending on assets like accounts receivable and inventory to that of real estate. Aware of Briar’s unique appetite for real property, this ABL lender understood Briar was the obvious choice to assist this Michigan company.
Within days of its introduction, Briar issued a financing proposal and in a few short weeks after that, closed a real estate term facility to replace the incumbent bank. With a stable and patient lending source at their side, this company can now concentrate on its business and get back to what made it successful for over 50 years, servicing their customers.
With its sole focus on real estate lending, Briar Capital Real Estate Fund is a trusted real estate lending partner to the ABL community. With a nationwide focus and collateral based underwriting, Briar provides owner occupied, commercial real estate loans from $1MM to $15MM with LTV's as high as 65%.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.