Opus Bank’s Commercial Banking division provides $4,214,700 in credit financing to an affiliate of Topline Counters, LLC
Overview of Transaction
Topline Counters, LLC (“Topline Counters”) provides quality manufacturing of a broad array of laminate, solid surface, and stone products for residential and commercial applications.
Since its inception in 2005, Topline Counters has experienced consistent year over year growth and had outgrown their existing operating facility.
Significance of Transaction:
Opus Bank (“Opus”) provided a $2,341,500 real estate secured term loan to an affiliate of Topline Counters to cover 50% of the purchase price for Topline Counters’ new building.
Opus also provided a $1,873,200 interim term note in partnership with Evergreen Business Capital to facilitate 40% of the building purchase price, which leveraged the SBA 504 program.
Opus Bank's Role
Opus worked with the affiliate and Topline Counters’ executive management team to understand the importance of expanding operations into a bigger location and to accommodate continued growth.
Opus’ expertise with the SBA 504 program helped Topline Counters’ affiliate secure a flexible long-term financing solution and low 10% down payment option that helped preserve cash, which facilitated the real estate purchase.