(MENAFN- EIN Presswire)
The residence is in the process of being transformed into a restaurant and boutique hotel.
The entry foyer at Doctor Sax House.
Janover crafts an innovative SBA loan strategy, preserving low interest rates and enabling a small business to reimagine the property as a restaurant and hotel.
Janover Inc. (NASDAQ:JNVR)
It's not just about finding a loan with the best rate or term, but also the best fit for what this small business is doing to reestablish this historic property in the heart of Berkshire County.” - Joe Nolan, vice president & head of SMB at JanoverBOCA RATON, FL, UNITED STATES, October 12, 2023 /EINPresswire / -- Janover Inc. (Nasdaq: JNVR), an AI-enabled B2B fintech marketplace connecting commercial borrowers and lenders with a human touch, has successfully closed a complex small business financing deal for Doctor Sax House in Lenox, Massachusetts, highlighting its skill in navigating unique financial situations for small businesses and commercial real estate.
The owners of the former Candlelight Inn purchased the property in 2020, using a 30-year residential mortgage with a low, fixed rate. The owners are converting the building, constructed in 1885, into Doctor Sax House, a 40- to 60-seat full-service restaurant, bar, and boutique hotel with a retail component.
Janover faced the challenge of structuring a deal that would honor the existing mortgage, while introducing an SBA 7(a) loan as an additional financing method. This approach allowed the clients to maintain their low interest rate and secure the necessary additional funding for the renovation and construction work.
Joe Nolan, vice president and head of SMB at Janover, said,“It's not just about finding a loan with the best rate or term, but also the best fit for what this small business is doing to reestablish this historic property in the heart of Berkshire County.”
Engaging with multiple lenders through its AI-enabled platform , Janover ensured the right match was found, even with the residential mortgage complication.
This deal showcases Janover's ability to deliver results in a timely manner, contrasting the often slower, traditional paths for SBA loans. The time from loan application to acceptance was only three weeks, despite the intricacies of the deal.
Janover's approach categorizes lenders based on their expertise and niches to ensure all borrowers are matched with the best lenders to get the most advantageous financing solutions possible for their small businesses.
About Janover Inc.
Janover is a B2B fintech marketplace connecting commercial property borrowers and lenders with a human touch. The Company seeks to revolutionize the commercial real estate lending market by making it hyper-efficient, transparent, and accessible to all rather than the few. Through the Company's online platform, it provides technology that connects commercial mortgage borrowers looking for capital to refinance, build, or purchase commercial property, including, but not limited to, apartment buildings, to commercial property lenders. Borrowers include, but are not limited to, owners, operators, and developers of commercial real estate including multifamily properties and most recently, a growing segment of small business owners, which Janover believes represents a significant growth opportunity. Lenders include small banks, credit unions, REITs, Fannie Mae® and Freddie Mac® multifamily lenders, FHA® multifamily lenders, debt funds, CMBS lenders, SBA lenders, and more. Additional information about the Company is available at: .
To view the latest investor presentation, please visit .
Forward-Looking Statements
This press release may contain“forward-looking” statements, as defined in the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission, that involve a number of risks and uncertainties, including the Company's ability to meet the objectives included in its business plan. Important factors that could cause results to differ materially from those indicated by such“forward-looking” statements are set forth in the“Risk Factors” and“Management's Discussion and Analysis of Financial Condition and Results of Operations” section in the Company's quarterly and annual reports. The Company's future results may also be impacted by other risk factors listed from time to time in its SEC filings, including, but not limited to, the Company's Form 10-Qs and its Annual Reports on Form 10-K.
Jeff Hamann
Janover
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