Gaming, Lodging, and Restaurants
The growing business was on an upward growth trajectory and was mindful of three major points in its objectives with financing: Preserve cash, cash flow of payments and operating lease treatment for balance sheet presentation. The customer understood that the Food and Beverage industry as a whole is tough to underwrite. We were able to not only provide financing to the Lessee, but 100% dollar for dollar financing for furniture, fixtures, tenant improvement and other low or no resale property, including soft costs. The first transaction was a great win for the customer and us, and since that time we have repeated the process two more times, and a 4th schedule near the horizon as the customer's business continues to grow.