Navesink River Capital Closes $300,000 Loan for New Jersey Warehouse
One-year Loan Term Provides the Borrower the Opportunity to Refinance
Freehold, NJ, February 03, 2014 – Navesink River Capital, LLC has completed a $300,000 loan to TRM Holdings, LLC, an entity owned by Mark Zientek, and People Pleasers of NJ, Inc. The 12-month loan was secured by a 5,400-square-foot warehouse, currently owned by People Pleasers, at 1819 Route 35 in Sayreville, New Jersey.
“The Borrower needed a one-year term loan to refinance the premises with a conventional lender,” said Jonathan Hornik, founder and CEO of Navesink River Capital, a Freehold, NJ-based direct private lender. “We are pleased to have been able to meet the borrower’s requirements with this transaction.”
The building is fully occupied by People Pleasers, a provider of rides and amusements for entertainment and special events. Constructed in 1997, the steel frame and steel exterior facility includes 1,800 square feet of office space and is situated on 1.3 acres. Features include four overhead truck-height doors and a paved parking lot.
Navesink River Capital, LLC is a direct private commercial lender servicing the real estate and other industries, specializing in providing loans to entities and businesses that cannot obtain conventional financing from traditional lending institutions in today’s current tight credit markets brought about by the soft economy. When traditional lending institutions will not lend, Navesink River Capital can provide or arrange funding of $100,000 and up quickly, in an easy and coordinated streamlined closing procedure.