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.