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Case Study: Dog Groomer /Retail Property, Florida

Commercial Mortgage
Posted on 
September 1, 2023


The borrower is a premier dog grooming facility located in central Florida. The business was founded in 1994 by the same owners who run it today. Since its inception, the facility has provided exceptional care and services, proud to be providing high-quality, stress-free, cage-free grooming services.  

Over the years, the business has evolved, providing “add-ons” to meet the changing needs of pet owners, expanding its range of services and investing in a state-of-the-art facility. With that growth and expansion has come a continuous need for renewed financing from multiple sources… with mixed results.  


The client had a number of financial challenges primarily involving multiple “payday” loans – low balance, high-cost loans with extremely short terms. These payday loans were for low face amounts but needed to be paid off in a single payment in as little as two weeks – and could have an annual percentage rate (APR) of as much as 400% or more.  

The payday loans had had a negative impact on the borrower’s credit, hindering their refinancing options. Furthermore, many banks in the area were no longer offering small commercial loans, and of those that were, many considered pet grooming “outside the box,” further limiting the client’s options.


Lower Rate $280,000 Property Loan Refinance

The priority was paying off the payday loans. However, the client was initially hesitant due to today’s increased rate environment. But her Apex Commercial Capital loan expert took the time to carefully walk the client through the savings opportunity – showing her the amount the business would save, even with current rates.

After reviewing the borrower’s complete financial standing, Apex Commercial Capital approved a $280,000 loan – more than the original $250,000 loan that was discussed – refinancing the original mortgage on the property and providing funds to pay off the payday loans.  

Apex Commercial Capital’s relationship with the borrower dates back to the original purchase. That relationship with the borrower was a key reason why the borrower reached out to us rather than other lenders in the area, but it was Apex Commercial Capital’s flexibility and commitment to working with the business that got the loan discussed, developed, and approved.  


The tangible results here are relatively simple – the client has paid off the payday loans, saving them thousands of dollars and protecting their credit from further damage. They’ve also lowered their monthly mortgage payment, freeing up funds they can use to continue to update and upgrade the business.

By refinancing with Apex Commercial Capital, the client has stabilized a precarious financial situation. They’ve also reinforced a long-term relationship with a dependable, trustworthy lender they can count on in the future… and this type of solid retail relationship is beneficial for the lender as well.


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