Party Plus is located in Baltimore, MD. It is a party and special event rental company. They provide party rental items such as tents, chairs, linens… to homeowners, businesses, government agencies and anyone in between.
How Did MultiFunding Help Party Plus
MultiFunding was able to secure a $3.2MM SBA 7 (a) loan to finance the purchase of a new warehouse. The new property will house the client’s own business as well as provide additional rental space and income. The purchase will result in lowering monthly expenses while at the same time adding a valuable asset to the balance sheet. Additionally, the client was able to consolidate the number of other liabilities on their balance sheet to further improve their cash flow.
Leroy was most happy about our approach to finding a lender creative enough to understand his business and structure the loan appropriately. Also, our willingness to be patient and allow the approval process time to work through its lengthy progression “was key to closing the loan”. Leroy expressed his appreciation for our efforts in making the deal become a reality.