News

Aileron Closes $8.9 Million in SBA 504 Interim Loans in August

Transaction Overview

Aileron Capital Management is pleased to announce the closing of $8.9 million in SBA 504 interim loans for the month of August. Aileron provided the 2nd mortgage/trust deed loans for the period between the initial loan closing, and SBA debenture funding.

Aileron worked with the following first trust deed lenders: Zions Bank, OneWest Bank, Noida Capital, and Morgan Stanley. SBA financing was provided by: CDC Small Business Finance, Premier Capital, and SomerCor.

Aileron Pools $33 Million in SBA 504 Loans in August

Transaction Overview

Aileron Capital Management, LLC announced today that it has successfully closed three SBA 504 first mortgage lien pools for the month of August. The pools were Libor and Prime-based, with one being comprised of floating rate loans, and the other two containing loans with a fixed rate period. Aileron, a FINRA registered broker-dealer, was approved in May 2012 by the SBA as a Pool Originator, making it the only non-bank lender to become both a Seller and Pool Originator.

Aileron Managing Director Joseph Bonora commented, "This was a tremendous month for our firm, as it demonstrates our ability to successfully execute on larger transactions/trades, and further solidifies our position within the government guaranteed lending arena." Aileron's Michael Maguire added, "With only one month remaining before the expiration of the FMLP program, we are very happy we could assemble such a significant amount of loans this month. We would like to thank all of the lenders/sellers, investors, and third party providers that had a hand in making these pools happen."  

Aileron Closes $13.3 Million in SBA 504 Interim Loans in July

Transaction Overview

Aileron Capital Management is pleased to announce the recent closing of eight interim bridge loans, totaling over $13.3 million. The loans were provided to borrowers utilizing the SBA 504 loan program, with Aileron providing the 2nd mortgage/trust deed loans for the period between the initial loan closing, and SBA debenture funding.

Aileron worked with Zions Bank, OneWest Bank, Pacific Enterprise Bank, and Quadrant Financial as the first trust deed lenders in closing the transactions. TMC Financing, CDC Small Business Finance, BFC Funding, AmPac TriState, and Chesapeake Business Finance were the CDCs on the deals.

Aileron Approved By SBA as Pool Originator; Forms Its First SBA 504 FMLP Pool

Transaction Overview

Aileron Capital Management, LLC announced today that it has successfully closed its first SBA 504 first mortgage lien pools. The pools were both Prime-based, with one being comprised of floating rate loans, and the other containing loans with a three-year fixed rate period. Aileron, a FINRA registered broker-dealer, was approved in May 2012 by the SBA as a Pool Originator, making it the only non-bank lender to become both a Seller and Pool Originator.

Regarding this milestone for the firm, Aileron Managing Director Joseph Bonora commented, "We are very excited that our firm is finally an aggregator of SBA 504 first mortgage loans, as this was a big part of our business plan from the beginning. We truly believe in the SBA's mission, and will continue working with them, and other government-sponsored agencies, in providing much needed capital to U.S. small businesses." Aileron's Michael Maguire added, "The SBA FMLP program has played a critical role in the ongoing recovery of the small business lending market, and we are thrilled and honored to have been a part of it. While we are disappointed to see the program expire, we are confident that a viable alternative will be created soon, and we'll be working with the SBA and other FMLP participants (e.g., other non-bank lenders, banks, pool originators, etc.) to make that happen."  

Aileron Closes $14.5 Million in SBA 504 Interim Loans in June

Transaction Overview

Aileron Capital Management is pleased to announce the recent closing of nine interim bridge loans, totaling over $14.5 million. The loans were provided to borrowers utilizing the SBA 504 program, with Aileron providing the 2nd mortgage/trust deed loans for the period between initial loan closing, and SBA debenture funding. The $14.5 million represents a record month for Aileron.

Aileron worked with Prime Alliance Bank, Liberty Small Business Finance, and Business Loan Capital as the first mortgage lenders in closing the transactions. Superior California Economic Development, CDC Small Business Finance, New Jersey Business Finance Corp., Greater East Texas Capital, Greater Sacramento CDC, and Florida Business Development Corp. were the CDCs on the deals.

Aileron Closes $6.4 Million in SBA 504 Interim Loans in May

Transaction Overview

Aileron Capital Management is pleased to announce the recent closing of four interim bridge loans: (i) $2,498,000 bridge loan for the refinance of a 78 room hotel in Kenai, AK; (ii) $2,376,000 bridge loan for the acquisition of a boutique hotel in Napa, CA; (iii) $745,500 bridge loan for the acquisition of a 16,768 square foot industrial building in Miami, FL; and (iv) $769,300 bridge loan for the refinance of a 57,294 square foot retail building in Montesano, WA.

Aileron worked with SB Capital, Hanmi Bank, Alera Group, and Business Loan Capital as the first deed of trust lenders on the transactions. Superior California Economic Development, Resource Capital, Evergreen Business Capital, and Florida Business Development Corp. were the CDCs on the deals.

Aileron Capital Management Closes $1,196,000 SBA 504 Loan

Transaction Overview

Aileron Capital Management is pleased to announce the recent closing of a $1,196,000 loan for the acquisition of a Chevron gas station and C-store in Tampa, FL. Aileron, along with its CDC partner in the deal, Florida Business Development Corp., provided an 85% LTV loan to fund the acquisition of the property.

Regarding the transaction, Aileron's Joseph Bonora commented, "This deal was referred to us by a local bank that had a great relationship with the borrower, but wasn't able to fund this type of property. Given our flexibility as a non-bank lender, we were able to quickly underwrite and fund the deal, and the bank was able to keep the deposit accounts, and preserve its relationship with the client." Aileron's Michael Maguire added, "This is another great example of how the SBA 504 FMLP program is a viable, alternative source of capital for small business owners."

Aileron Capital Management Closes $2,187,000 SBA 504 Loan

Transaction Overview

Aileron Capital Management is pleased to announce the recent closing of a $2,187,000 loan for the acquisition and renovation of a 12,800 square foot retail building in Clearwater, FL. Aileron, along with its CDC partner in the deal, Florida Business Development Corp., provided the funds necessary to acquire the property and fund the tenant improvements. The property will undergo some cosmetic and minor structural upgrades over the next 30 days, and will be reopened as a Village Inn restaurant upon completion of the renovations.

Regarding the transaction, Aileron's Joseph Bonora commented, "We have been working with this restaurant operator for many years now, and are very confident in their ability to successfully grow their portfolio of Village Inn stores in Florida and outside the state." Aileron's Michael Maguire added, "Given our existing relationship with the borrower, and our experience in hospitality and restaurant lending, we were able to quickly underwrite the deal and close within 45 days of application."

Aileron Capital Management Closes $1,079,750 SBA 504 Interim Loan

Transaction Overview

Aileron Capital Management ("Aileron") is pleased to announce the recent closing of a $1,079,750 bridge loan for the acquisition of a 24-room boutique hotel in Solvang, CA. Aileron worked with SB Capital, the first trust deed lender, and Superior California Economic Development as the CDC, in successfully closing the transaction. "This was our first time working with SB Capital and SCED, and we were extremely pleased with how smoothly everything went," said Joseph Bonora, Managing Director of Aileron. "We look forward to working with them again on many more loans to U.S. small business owners."

To make the transaction as easy as possible for the borrower, Aileron was able to quickly work with the CDC and first trust deed lender to underwrite the deal and coordinate the closing.

Aileron Capital Management Closes $2,812,500 SBA 504 Interim Loan

Transaction Overview

Aileron Capital Management ("Aileron") is pleased to announce the recent closing of a $2,812,500 bridge loan for the acquisition of a 79,600 square foot self-storage facility in Palm Beach County, FL. Aileron worked with Palm Beach Community Bank, the first mortgage lender, and Florida Business Development Corp. in successfully closing the transaction. "We were very pleased to be working with Florida Business Development Corp. and PBCB on this deal, and are thrilled that we could play a part in making this deal happen for another small business owner," stated Joseph Bonora, Managing Director of Aileron.

To make the transaction as easy as possible for the borrower, Aileron was able to quickly work behind the scenes with Florida Business Development and the bank to underwrite the deal and coordinate the closing.

Aileron Capital Management Closes $3,570,000 SBA 504 Loan

Transaction Overview

Aileron Capital Management, LLC, announced today that it has recently closed a $3,570,000 loan for the acquisition of a 42-room independent hotel, known as Hotel Isis, located in Redington Shores, FL. Aileron, along with its CDC partner in the deal, Florida Business Development Corp., provided 85% loan-to-cost financing for the acquisition.

"Aileron continues to provide financing for good hospitality transactions, at a time when hotel loans are very hard to come by," stated Joseph Bonora, Managing Director of Aileron. "Fortunately for the borrower, these are the types of deals in which we specialize. We appreciate the hard work of the great people over at Florida Business Development, as without them and the participation of the SBA, this deal would not have happened" added Aileron's Michael Maguire.

Aileron Capital Management Closes $1,550,000 Million SBA 504 Loan

Transaction Overview

Aileron Capital Management, LLC, announced today that it has recently closed a $1,557,000 loan for the acquisition of a 40-unit senior care facility (ALF/ALZ) located in Milledgeville, GA. Aileron, along with its CDC partner in the deal, Florida Business Development Corp., provided the funds necessary to acquire the property.

Regarding the transaction, Aileron's Joseph Bonora commented, "We were extremely impressed with borrower's experience and track record, and feel that the property was acquired at a very attractive price." Aileron's Michael Maguire added, "We see tremendous opportunity in the senior housing space, and are excited and eager to continue lending to top-quality operators looking to acquire these assets."

Aileron Capital Management Closes $4,640,000 SBA 504 Loan

Transaction Overview

Tampa, FL (December 15, 2011) – Fund management firm Aileron Capital Management, LLC, announced today that it has recently closed a $4,640,000 loan for the acquisition and renovation of a 177-unit senior care facility (ILF/ALF/ALZ) located in Orlando, FL. Aileron, along with its CDC partner in the deal, Florida First Capital Finance Corp., provided the funds necessary to acquire and rehabilitate the property. The property, which is currently being operated strictly as an independent living facility, will undergo some cosmetic and minor structural upgrades over the next couple of months, and will be licensed to operate as an assisted living facility with memory care upon completion of the renovations.

Regarding the transaction, Aileron’s Joseph Bonora commented, "We were extremely impressed with the sponsor and the team they chose to help manage the facility, and feel that the property is being acquired at a very attractive cost basis relative to the stabilized value." Aileron’s Michael Maguire added, “We see tremendous opportunity in the senior housing and care industry, and are excited and eager to continue lending to top-quality operators within this space.”

Aileron Capital Management Closes $2,200,000 SBA 504 Loan

Transaction Overview

Tampa, FL (November 22, 2011) – Fund management firm Aileron Capital Management, LLC, announced today that it has recently closed a $2,200,000 loan for the acquisition of a 120-room Red Roof Inn located in Tampa, FL. Aileron, along with its CDC partner in the deal, Florida Business Development Corp., provided the funds necessary to acquire the property. "Aileron continues to provide financing for good hospitality deals that have been passed over by the banks," stated Joseph Bonora, Managing Director of Aileron. "Fortunately for the borrower, these are the types of deals in which we specialize. We appreciate the hard work of the great people over at Florida Business Development, as without them and the participation of the SBA, this deal would not have happened" added Aileron’s Michael Maguire.

Aileron Capital Management Closes $2,200,000 SBA 504 Interim Bridge Loan

Transaction Overview

Tampa, FL (September 20, 2011) – Aileron Capital Management ("Aileron") is pleased to announce the recent closing of a $2,264,000 bridge loan for the refinance of a 43,460 square foot retail center in Spring Valley, CA. Aileron worked with Wells Fargo, the first deed of trust lender, and CDC Small Business Finance in successfully closing the transaction. "We were very pleased to be working with CDC Small Business and Wells Fargo on this deal, and are thrilled that we could play a part in making this deal happen for another small business owner," stated Joseph Bonora, Managing Director of Aileron.

To make the transaction as seamless and easy as possible for the borrower, Aileron was able to quickly work behind the scenes with CDC and Wells Fargo to underwrite the deal and coordinate the closing. Because the SBA Authorization was in place, Aileron was able to provide a low-cost interim loan to bridge CDC's portion of the permanent refinance loan, and close very quickly after receiving the request.

Aileron Capital Management Closes $1.2 Million SBA 504 Loan

Transaction Overview

Tampa, FL (August 30, 2011) – Fund management firm Aileron Capital Management, LLC, announced today that it has recently closed a $1.2 million SBA 504 loan to Creative World Day Care franchisee, for the acquisition of an 8,170 square foot facility in Wesley Chapel, FL. Aileron, along with Florida Business Development Corp. as the CDC, provided the funds necessary to purchase the building, which is the borrower’s second location.

Michael Maguire, Managing Director of Aileron stated, “We are delighted to be working with the Creative World Schools franchise, and thrilled that we could provide the capital needed for a top-notch operator to expand and acquire another location.” Aileron’s Joseph Bonora also added, “This deal required a combination of speed and certainty of execution, as the borrower and franchisor had a limited amount of time to capitalize on this acquisition opportunity. Because of our ability to quickly underwrite the deal alongside our CDC partner, Florida Business Development Corp., we were able to make this deal happen within a very tight timeframe.”

Aileron Capital Management Closes $9.5 Million SBA 504 Loan

Transaction Overview

Tampa, FL (August 4, 2011) – Fund management firm Aileron Capital Management, LLC, announced today that it has recently closed a $9.5 million SBA 504 loan to one of the largest independently owned auto liquidators in the country, for the refinance of a construction loan used to build a 13,500 square foot body shop on a developed 28 acre parcel. Aileron, along Florida First Capital Finance as the CDC, and Mercantile Capital as the interim lender, provided the funds necessary to pay off the existing construction loan.

Michael Maguire, Managing Director of Aileron stated, “We are thrilled to have one of the premier auto auction companies in the country as one of our borrowers. Despite the challenges faced by the auto industry through the recession, our client has been able to remain profitable and gain market share, while others have scaled back or gone out of business.” Aileron’s Joseph Bonora also added, “This was a deal that many other banks and lenders had passed on, due to the borrower’s industry and the type of collateral being pledged. Fortunately, we were able to understand the borrower’s business model and, through use of the SBA 504 program, mitigate some of the risk by lowering our basis in the collateral. This is another perfect example of how the SBA programs truly help America’s small businesses.”

Aileron Closes $1,150,000 SBA 504 Loan

Transaction Overview

Tampa, FL (May 24, 2011) – Fund management firm Aileron Capital Management, LLC, announced today that it has recently closed a $1,150,000 loan for the refinance of a short-term construction loan used to build a Sonic Drive-In Restaurant in Vista, CA. Aileron, along with its CDC partner in the deal, CDC Small Business Finance, provided the funds necessary to pay off the existing loans, which had already matured. Joseph Bonora, Managing Director of Aileron stated, “The borrower, with SBA Authorization in hand, had already tried to refinance the loans through a number of local and national banks prior to being introduced to Aileron, but were turned down for the reasons commonly heard in today’s market; e.g., property type, start-up, etc. Fortunately for the borrower, these are the types of deals we specialize in.”

In addition to the challenges the borrower faced being a start-up restaurant, the Sonic was constructed on leased land, which most lenders won’t finance, so finding a lender able to understand these complexities and willing to accept a leasehold mortgage was key. Facing a fast approaching maturity date on their existing construction loans, the borrower needed a quick approval and a firm closing date. Working concurrently with CDC Small Business Finance, Aileron was able to quickly approve the loan and fund the deal just one day prior to the balloon date.

Aileron Closes $1,900,000 SBA 504 Loan

Transaction Overview

Tampa, FL (April 28, 2011) – Fund management firm Aileron Capital Management, LLC, announced today that it has recently closed a $1,900,000 loan for the acquisition and renovation of a 60-bed assisted living facility in Lakeland, FL. Aileron, along with its CDC partner in the deal, Florida Business Development Corp., provided the funds necessary to acquire the property and make some minor aesthetic improvements. "This deal is another great example of how Aileron Capital fills a void within the marketplace for good deals that are either too complicated, or need to close too quick for banks or other conventional lenders," stated Joseph Bonora, Managing Director of Aileron. "Fortunately for the borrower, these are the types of deals in which we specialize. We appreciate the hard work of the great people over at Florida Business Development, as without them and the participation of the SBA, this deal would not have happened" added Aileron’s Michael Maguire.

Facing a deadline on their lease option contract, the borrower needed a quick approval and a firm closing date. Working concurrently with Florida Business Development, Aileron was able to approve the loan and get an SBA Authorization within three weeks, thereby satisfying the conditions of the option contract. In addition to providing funds for the acquisition, Aileron included money in the loan for cosmetic improvements, including landscape upgrades, new FF&E, and paint.

Aileron Closes $2,600,000 SBA 504 Loan for Hotel Acquisition

Transaction Overview

Tampa, FL (March, 2011) – Fund management firm Aileron Capital Management, LLC, announced today that it has recently closed a $2,600,000 loan for the acquisition and renovation of a 120-room hotel in Saginaw, MI. The property is being converted from an independent, non-flagged hotel, to a Country Inn & Suites brand hotel. Aileron, along with its CDC partner in the deal, Resource Capital, provided the funds necessary to acquire the property and complete the PIP. "This deal had all the right attributes: a great sponsor; a property being purchased at a very attractive price; and market where demand is picking up. Yet, in spite of all these strengths, most banks were not willing to entertain this transaction due to the property type," stated Joseph Bonora, Managing Director of Aileron. "Fortunately for the borrower, these are the types of deals in which we specialize. This is a perfect example of how the SBA program can aid small business owners, as without the participation of the SBA, this deal probably would not have happened" added Aileron’s Michael Maguire.

Aileron Closes $2,450,000 Bridge Loan

Transaction Overview

Tampa, FL - (January 4, 2011) - Aileron Capital Management ("Aileron") is pleased to announce the recent closing of a $2,450,000 bridge loan to a leading pharmaceutical manufacturer, for the acquisition of a new production facility in Tampa, FL. Aileron was presented with the opportunity on December 18th, and was able to successfully meet the borrower's closing deadline of December 31st. As a result of Aileron's quick execution, the borrower was able to avoid a $250,000 late closing penalty. "Facing a significant price increase if the deal didn't close by year end, the borrower needed speed and certainty of execution. We were able to quickly underwrite the deal, and come up with a structure that worked for all parties involved," stated Joseph Bonora, Managing Director of Aileron.

To accommodate the need for a quick closing, Aileron was able to provide a short-term bridge loan while awaiting permanent loan approval from the SBA. Once the deal is fully approved by the SBA, Aileron will provide the borrower with construction-permanent financing to complete the build-out of six state-of-the-art, Class 100,000 clean rooms.

Aileron Closes $850,000 Bridge Loan

Transaction Overview

Tampa, FL - (Dec. 21, 2010) - Aileron Capital Management ("Aileron") is pleased to announce the recent closing of an $850,000 cash-out bridge loan to a real estate investor, which will be used by the borrower to make opportunistic investments in commercial real estate. The loan was secured by a first mortgage on two development properties located in Connecticut. "The borrower needed speed and certainty of execution, as he needed to close on the acquisition of another property by December 15th. We were able to quickly underwrite the deal, and come up with a stucture that worked for all parties involved," stated Joseph Bonora, Managing Director of Aileron.

In addition to the need for a quick close, the deal required come creative structuring on the part of Aileron, as the terms of the bridge loan needed to be compliant with the borrower's other lender's covenants. "Our ability to work with the borrower's legal counsel to structure the deal, speaks to both our flexibility and our entrepreneurial nature," added Aileron's Michael Maguire.

Aileron Closes $1.2MM Bridge Loan for Hotel Acquisition

Transaction Overview

Tampa, FL - (Dec. 7, 2010) - Aileron Capital Management ("Aileron") is pleased to announce that it has successfully provided $1.2 million in bridge financing to a leading hotel operator, for the acquisition of a 120-bed independent hotel property in Saginaw, Michigan. "The combination of management experience, guarantor strength, and our focus on the hospitality market make this transaction a perfect fit for Aileron," added Joseph Bonora, Managing Director of Aileron.

To accommodate the need for a quick closing, Aileron was able to provide a short-term bridge loan while awaiting permanent loan approval from the SBA. Once approved by the SBA, Aileron will provide the borrower with construction-permanent financing to renovate the property, which will be re-branded under the Country Inn and Suites flag upon completion of the PIP.

Aileron Capital Management Launches New Fixed Income Fund

Tampa, FL- (Nov. 23, 2010) - Fund management firm Aileron Capital Management, LLC announced today that it has successfully raised the first round of capital for its Aileron Fixed Income Fund I. The fund, which invests primarily in commercial real estate loans, will focus on making new first mortgage loans to small business owners looking to acquire real estate and other fixed assets, with most of the deals being structured as SBA 504 loans. In terms of property types, the initial focus will be on hotels, assisted living facilities, and multi-use properties. In addition to SBA loans, the fund will also provide short-term, low LTV bridge loans to real estate investors seeking to make opportunistic acquisitions of commercial investment properties.

The fixed-income fund is the second investment fund launched and managed by Aileron Capital Management, LLC, a Tampa-based investment management firm. In addition to SBA financing, the funds managed by Aileron also provide bridge loans, mezzanine and sub-debt loans, and equity investments. The firm assists lower-middle market companies in all stages of the growth cycle, and provides loans from $500,000 to $12 million.

Aileron Capital is managed by lending and investment banking veterans Robert Beard, Joseph Bonora and Michael Maguire. With offices in Tampa, FL and Los Angeles, CA, Aileron Capital Management is the manager of an innovative group of private equity funds, primarily focused on investing capital in two asset classes: (i) loans made to operating businesses that are poised for significant growth, but are typically considered too "new" or "specialized" to obtain conventional bank or capital markets financing; and (ii) undervalued real estate-backed assets that are fundamentally mispriced due to factors such as forced liquidation, lack of liquidity, inefficient markets, and other special situations.