iCap Arranges $1M Loan Deal

BERKLEY, MI-The loan paves the way for the newly-opened Danaher's Bar and Grill and a 1,600-sf, two-tenant retail center and single family home.

By Dan Heaton | September 30, 2003 at 01:01 AM

The loan was for the newly-opened Danaher's Bar and Grill located along Coolidge Highway. Along with the restaurant, a 1,600-sf, two-tenant retail center and single family home was included in the loan.

The SBA loan term is based upon a 25-year self amortizing loan with an initial interest rate of 5.25%. The borrower for this loan is Danaher Entertainment, LLC. iCap did not release the name of the lender.

Scott Seltzer handled the loan transaction for iCap, which is based in Troy, MI.

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