Recently, Filmore Capital was approached by the CEO of a North Carolina-based business looking for assistance with the $47.5 million acquisition of a competitor in Florida.
They were facing a problem. After watching the clock tick for 45 days after initiating a financing request with the company’s bank, the Client had still not received a term sheet—and time, at this point, was of the essence.
The Search for a Different Solution Was On
The Client was introduced to the team at Filmore Capital with the expectation that the firm may be able to provide a variety of financing options. Therefore, the Client made the decision to hire Filmore Capital to run a broad, competitive analysis that leveraged the company’s extensive and trusted network of Bank Lenders and debt funds.
In turn, Filmore Capital was able to successfully source a commitment letter that checked all the boxes and met the Client’s needs. The Client ended up accepting the commitment as opposed to the Incumbent Bank’s term sheet, because:
- $19.5M more debt was made available to the Client—a 62% increase over the Incumbent Bank.
- A $740,769 savings in interest was realized over the 5-year term.
- The business would recoup the success fee paid to Filmore Capital in Month 13.
Additional Key Engagement Highlights
The Client also experienced several other benefits that made the experience of working with Filmore Capital one that was to their advantage.
Other key engagement highlights include:
- Within 12 calendar days of entering into a mutual agreement, Filmore Capital had compiled and began engaging with a targeted list of 25 Bank and Non-Bank Commercial Lenders—and already received one initial Letter of Interest within that short time span.
- Filmore Capital engaged in conversations with each Lender at least once without the Client’s involvement and without requiring the Client’s Management Team to be present. All in all, this saved about 50 hours of the CEO’s valuable time.
- Filmore Capital narrowed down the list of 25 Lenders to four, which also resulted in a time savings. The CEO was able to keep approximately eight hours of his time to himself.
- The Client selected a Full Commitment Letter, which was sourced by Filmore Capital and offered numerous improvements when compared with the Incumbent Bank’s term sheet.
Filmore Capital Gets Results
Our team recognizes that every business is unique, and each business owner has specific goals and targets. That is why we are passionate about partnering with our clients, understanding their challenges, and developing financial solutions that align with individual objectives. Plus, we offer clients the ability to focus on their business while we do the legwork to get the deal done and realize the most favorable financial terms possible.
We would love to speak with you about how Filmore Capital could help your business or even assist your commercial banking and real estate clients to ensure they are securing the most favorable financing options.
Reach out to our team today and schedule a consultation. We welcome the opportunity to get results for you.
