Huntington Coast Capital is proud to announce the closing of a $840,000 SBA loan for a sauna manufacturer in San Francisco! The company was looking to re-structure some debt and utilize some outside capital for expansion.
The company was referred to us by one of our lending partners who could not offer them a term loan. Because they sold their product directly to consumers and not through retail distribution, they did not have accounts receivable. Non-SBA lenders need to have accounts receivable and/or inventory to provide working capital lines of credit. The SBA lenders look at things a bit differently; they look at the cash flow and debt service ability of the company. The company had strong cash flow and was trending in a growth direction.
A main reason for the growth of the company is due to their motto in placing customer health first.
An explanation from their company website:
For years, the healthcare industry recommended infrared heat lamps as a source of far infrared heat but the lamps were cumbersome, extremely hot and difficult to maintain at a constant temperature. Today, many healthcare professionals use far infrared infrared heaters to treat a variety of diseases throughout the world.
The efficacy of far infrared waves is very broad and the subject of recent study by NASA. Among the infrared waves, the far infrared rays, which have a wavelength of 8-14 microns, are especially good for the human body. These waves have the potential to penetrate 1.5 to 2 inches or more into the body allowing for deep heat and raising your core body temperature from deep inside. The deep heat and far infrared is why scholars believe that the Ondol (traditional warm floor of Korea) is good for health because the materials for the Ondol are stone and earth both of which radiate far infrared waves when heated.
The far infrared rays consist of similar wavelengths as that which is emitted naturally by the human body. This is one potential explanation of why many feel energetically rejuvenated and balanced from contact with far infrared waves. It is also believed that far infrared waves help improve blood circulation and recovery from fatigue.
I feel rejuvenated just reading this!
If your company could use additional capital to expand operations, give us a call!
To your success,
Patrick Zazueta | Founder
Huntington Coast Capital, Inc.