Lehigh Financial Group
Allentown, PA 18102
Company News
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BIG NEWS FROM THE SBA!!! - The U.S. Small Business Administration (SBA) recently changed its loan guidelines allowing self-storage businesses as an eligible business type. The SBA changed its ruling for all “passive income” properties, those which rely on rental income and the owner controls both entry and exit. The passive income guidelines affected self-storage, mobile-home parks, office suites, shopping centers and similar businesses. Previously, self-storage facilities were only eligible if more than 50 percent of the business revenue came from sources other than monthly rent. The new eligibility limits coincides with higher SBA 7a loan and eligibility limits, higher 504 and eligibility limits and extension of the SBA fee waiver. There has also been a change in maximum SBA eligibility, enabling owners of multiple self-storage sites to refinance or purchase additional facilities. The maximum eligibility is now $5 million for regular loans and $5.5 million for green or energy-efficient loans. Longer term loans will also be available, up to 25 years if collateralized by a commercial building. The new SBA loans also have lower equity and down payment requirements. (November 2010)
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Lehigh Financial Group LLC congratulates C.A.F.E of Life Chiropractic Inc and The DiCarlo Group LLC of their recent acquisition of the office building located at 4540 Hamilton Blvd Allentown Pa. We were able to secure a conventional 5 Year Fixed / 20 Year Loan for $310,000. We wish Dr. Di Carlo and his office staff continued success at their new location. (August 2010)
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Lehigh Financial Group LLC congratulates Tom’s Auto Tags & Notary Service and KD Smith Insurance of Allentown Pa on the recent refinance of there office building, debt consolidation and working capital loan. We were able to secure financing for 25 Years with the SBA 7(a) program for $360,000. We wish them continued growth and expedition of their family run business. (August 2010)
Lehigh Financial Group LLC would like to congratulate Blue Spruce Estates, LLC on there recent acquisition of the Blue Spruce Mobile Home Park located in Sayre Pa for $775,000. We were happy to secure a conventional 25 Year adjustable financing for $612,500. (August 2010)
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Lehigh Financial Group LLC congratulates Right Pedal Holdings LLC on their refinance of a mixed use building consisting of a bank and 3 apartments located at 1 North Broadway in Wind Gap Pa. We were happy to secure a conventional 5 Year Fixed / 20 Year loan cash out refinance for $327,500. (July 2010)
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Lehigh Financial Group LLC congratulates online high end luxury watches, jewelry, antiques and art dealer RMS Technologies Inc. DBA Luxury Bazaar Inc. on their office building refinance in Warminster Pa. We were happy to secure a SBA 7(a) 25 Year Loan for $600,000 and Express Line of Credit for $350,000. We wish them continued growth with their online business. (July 2010)
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Lehigh Financial Group LLC congratulates Jerneemill Laundromat & Dry Cleaner & Karenna Laundromat of New Jersey on their expedition to a 3rd New Jersery location. We thank them for their business and were happy to secure a $250,000 SBA 7A working capital 10 year term loan for the recent acquisition. (May 2010)________________________________________________________________________________________________________________________________
Lehigh Financial Group LLC and Jeffrey Barber congratulate Wolfe Properties LP and Zirconium Properties LP on their recent refinance of 10 investment properties throughout Allentown and Emmaus PA. The total loan amount for the portfolio refinanced was for $2,350,000. Conventional financing was obtained on a 5 year fixed rate with a 25 year amortization. (April 2010)_________________________________________________________________________________________________________________________________
Lehigh Financial Group LLC and Gary Chromiak congratulate The Chile Zone LLC and ICE-COLD LLC on the recent acquisition of Real Estate and Franchise of Rita’s Italian Water Ice in Pennsburg Pa for $470,000 under the SBA 7A commercial financing program for 25 years. (March 2010)__________________________________________________________________________________________________________________________________
Lehigh Financial Group, LLC and Jeffrey Barber congratulate PMM Real Estate Services LLC and the PMM Insurance Agency on their recent office building acquisition of 1723 W. Tilghman Street in Allentown Pa for the purchase price of $205,000. We wish the Agency Owner, Patrick McNealis continued success with his business expedition in the Lehigh Valley. (April 2010)_________________________________________________________________________________________________________________________________
Lehigh Financial Group, LLC and Jeffrey Barber congratulate George and Eva Hossien on their recent storefront & apartment building acquisition of 464-468 Northampton St. in Easton Pa for the purchase price of $337,500. We had a great pleasure working with them and wish them continued success. (March 2010)
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Lehigh Financial Group, LLC and Gary Chromiak congratulate MHP Ventures LLC on their most recent acquisition of Lehman Home Park in Lehman Pa for the purchase price of $545,000. We are happy that you chose our company with your investment financing needs. (March 2010)
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Lehigh Financial Group Offers New Business Financing Option Accounts Receivable Finance Provides Cash-Flow Stimulus “Accounts Receivable Financing allows companies to receive immediate cash advances for their outstanding invoices”, said Jeffrey N. Barber, principal of Lehigh Financial Group LLC. “Business owners now have a terrific option to combat today’s otherwise challenging financing environment” “It gives business owners the working capital they need to operate while waiting for receivables to come in,” Barber said. “It really is a stimulus package for business owners and managers because now they have a cash infusion and they don’t have to wait 45 to 60 days for payment on a standard invoice for products or services.” Other advantages to Accounts Receivable Financing include the ability to take advantage of bulk purchasing and make early payments to suppliers, stop offering early payment discounts to customers, extend credit to large customers and access the funds necessary for growth in a tight lending market. Industries that would benefit most from the Accounts Receivable Financing are those with substantial monthly invoicing totals, such as staffing, engineering firms, manufacturers, certified public accountants, attorneys and those with significant government contracts, Barber said. “These are people who know they are going to get paid, but sometimes they need the operating cash to keep going while they wait for the invoice to be filled,” he said. Barber said he can assist businesses in eastern Pennsylvania, western New Jersey and the New York City region with a range of $25,000 to $2 million in outstanding invoices. Under the Accounts Receivable Financing process, the lending group holds the business’s invoice and full payment is made once the invoice is made whole. Barber said the businesses also benefit because most Accounts Receivable Financing groups will conduct the necessary credit checks on companies being invoiced by their clients to assure that payments can and will be made. This allows small business owners to deal comfortably with new or larger clients on major contracts knowing that they will be paid within the terms of the invoice or contract. “This is a relatively new product in the |