The Situation: Complex SBA Refinance For CPA Firm


A national CPA firm sought to restructure existing unsecured debt, commercial real estate debt, and purchase additional commercial real estate for a CPA firm it had recently acquired in another market. The beauty of this deal was lost on conventional lenders, however, the First Business Bank SBA team immediately saw the opportunity to structure all the debt with SBA 7(a) and 504 program.

  • Conventional Roadblock
    With unsecured debt in excess of $3.3MM, comprised of permanent working capital loans and partner buyout installment loans, the CPA firm’s conventional lenders couldn’t figure out how to structure the refinance.
  • Complex Requirements
    The CPA firm’s corporate office building needed to refinance a balance of $1.4MM and obtain additional funding for buildout improvements.
  • Additional Considerations
    The purchase of the smaller CPA firm included an existing office condo. In addition, managers of the CPA firm wanted access to a business line of credit.

The Solution: 7(a) And SBA Loans From First Business Bank


First Business Bank, an SBA-designated Preferred Lending Partner, provided two 7(a) loans, a 504 loan, and an SBA Express Line of Credit to accomplish the clients’ goals and provide monthly cash savings of over $20,000.

  • Complex Consolidation
    First Business Bank provided a $3.4MM SBA 7(a) loan to refinance the firm’s unsecured debt, including remaining buyouts of five partners who were receiving monthly payments.
  • Competitive Rates
    First Business Bank offered competitive rates and terms for a 504 refinance of $1.4MM, which included refinancing of all mortgages, buildout, and renovation funds. 
  • Complete Package
    Using the SBA 7(a) program, First Business Bank provided a $260,000 loan to purchase the office condo. The bank also provided a $250,000 SBA Express Line of Credit.