Successful Business Loans
Client:Prime Cinemas Red Bluff Company:Prime Cinemas Red Bluff City:Red Bluff
SCED was contacted by a lending partner to provide gap financing to enable the borrower to acquire the Red Bluff Theater and also provide additional working capital. Gap financing is used to fill the gap in financing between the bank's loan and the borrower's down payment. Because of SCED,s ability to finance non-traditional deals in a timely manner, the bank partnered with SCED to fund the loan, which enabled the business to be acquired in May 2008.
Client:Charles & Kathy Byerly Company:Mary's Pizza Shack City:Anderson
Charles and Kathy were referred to Superior California Economic Development (SCED) from a local lender because they were looking to start a restaurant. Charles and Kathy had owned and operated a Mary's Pizza Shack in the Bay Area and wanted to get back into the business in their new hometown of Anderson. Unable to find traditional financing through the bank Charles and Kathy were the perfect fit for SCED's Business Loan Program. SCED?s collateral and repayment terms are more flexible than traditional commercial lenders. Superior California Economic Development was able to loan Charles and Kathy funds for leasehold improvements and additional working capital. Mary's Pizza Shack has been doing great in the Shasta Outlets in Anderson since 2007.