FF&E Lease
Challenge:
To secure FF&E (Furniture Fixtures & Equipment) financing for a hotel which was about 60% completed. The developer had a tight time window as his existing 1st deed of trust construction lender refused to fund the extra monies needed for the FF&E and the FF&E & OS&E (Operating Supplies & Equipment) Purchases Orders needed to be funded.
Solution:
Assets America successfully provided a solution by arranging a $6.5 million leasing facility with excellent terms. The lease provided the developer with 100% financing which helped with the preservation of his cash reserves.