PROPERTY TYPE | INDUSTRIAL
SIZE | 48,708 SQUARE FOOT COMMERCIAL BUILDING ON 3.5 ACRES
ASSIGNMENT TYPE | PURCHASE LAND | CONSTRUCTION | PERMANENT FINANCING
THE BORROWER | CNC Motors, Inc. (“CNC”) is a Southern California family-owned and operated automobile reseller, which began operating in 2004. CNC specializes in providing high quality pre-owned exotic vehicles with list prices ranging from hundreds of thousands of dollars to some that reach into the millions – catering to the buyer with the most discriminating taste. Craig Thom started CNC with his eldest son, Clayton. Together the two C’s of CNC used their 20+ years of experience in the automobile industry to capitalize on an abundance of exotic vehicles in Southern California and their vision to connect with enthusiasts all over the world.
THE CHALLENGE | CNC reached a turning point that is not all that uncommon for growing companies – they needed to expand. Clayton and his team researched a variety of locations, property types and design standards. CNC experienced the difficulty of communicating their vision within the context of their financial picture to a traditional Bank. It did not take long for Clayton to realize he was being confronted with the traditional Bank “Box” that many of us have heard about. Resolved to overcome this issue, Clayton engaged the help of bankers and other professionals whom already support the business to brainstorm the best way to proceed. It was then that Clayton was introduced to the existence of non-bank lenders and other alternative capital providers. After getting up to speed with this financing niche, Clayton reached out to a select few that he viewed as the most competent.
THE SOLUTION | Enter Stonebriar Commercial Finance, and more specifically, its Real Estate Group (“SCF REG”). From the first phone call, it was immediately evident to Clayton how different their approach was. After discussing basic cost structures and terms, SCF REG laid out a roadmap from creating a credit file, to obtaining credit approval, disbursing construction funding, and ultimately converting into permanent loan status. SCF REG funded this project in just under 3 weeks, start to finish.
THE RESULTS | The construction and permanent real estate loan supported by the US Small Business Administration 504 loan program enabled the borrower to construct a cutting-edge showroom, service center and warehouse to support their growing exotic car retailer. Clayton recently described his business as “booming” and stated that he is most proud of the fact that about half his clients are repeat buyers. Additionally, they have completed transactions throughout the world, including Europe, Asia, and South America. CNC’s new location opened in the 3rd Quarter of 2018, and Clayton has already involved SCF REG in their next project. Curtis Valenzuela, EVP, Sr. Managing Director of SCF REG said, “Partners like Clayton and the entire professional effort at CNC give us an opportunity to demonstrate the true potential of bringing Wall Street to Main Street America. We are so grateful to be considered a CNC Team Member and look forward to a long and positive relationship.”
For more information, contact:
|Curtis Valenzuela, EVP Sr. Managing Director||714.595.1696||Curtis.Valenzuela@StonebriarCF.com|
|Ryan Ellis, Director||972.658.5136||Ryan.Ellis@StonebriarCF.com|
|Travis Bell, Commercial Loan Officer||972.896.9596||Travis.Bell@StonebriarCF.com|
|Nick Wall, Commercial Loan Officer||214.385.0969||Nick.Wall@StonebriarCF.com|
We’d like to hear from you. If you’d like us to add you to our newsletter, please fill out the form below: