Thriving Local Restaurant Concept
Ingham recently had the opportunity to expand outside of Colorado through his work with the Denver-based restaurant owner who has added multiple locations in the past three years. The company currently has four stores in Denver, one in Colorado Springs, and most recently, one in Kansas City.
“The owner’s current bank wouldn’t go out of state, and we had the footprint in Kansas City to accommodate them,” Ingham said. “We were able to offer what they needed under a structure that fit their needs.”
Since spreading the word that Academy Bank is in the SBA lending business, many borrowers have approached Academy Bank when their current banks are unable to provide them with SBA loans, which included this specific instance.
Automotive Service Center
A local auto-repair shop in Colorado Springs, was referred to Academy Bank's Commercial Lending team by a local business brokerage firm. The previous owner wanted to sell the business, and through an SBA 7(a) loan, the borrowers were able to buy the existing business. A year later, they purchased the building, further ensuring continuity of operations.
The business now controls its destiny much better if it also owns the real estate, and the owners procure an asset that will appreciate and pay rent to themselves.