Cascade Kennels, Inc.
$1,850,000 | SBA 7(a) Loan | Woodinville, WA
Larry Landin, a successful businessman in the Greater Seattle area, approached Pacific Western Bank about financing a loan that would allow him to become the sole owner of Cascade Kennels, Inc., a full-service pet care facility offering a range of services including boarding, grooming, and training.
Mr. Landin knew landing a loan might be a little difficult as the company had suffered during the recent economic downturn. He knew the company’s financial health needed to improve quickly in order to secure a loan that could launch the company in a new and successful direction, all while he realized his vision of sole ownership. Four months prior to beginning his search for funding he went to work in earnest, making changes that included streamlining management.
Our previous experience and in-depth review of the company allowed us to be comfortable making the loan when many others—with little experience in the industry—were not.
With an improved bottom line, Mr. Landin approached us. Having made loans to companies similar to Cascade Kennels, we were familiar with the industry enough to be convinced the company had made substantial and enduring changes and were headed in the right direction. Our previous experience and in-depth review of the company allowed us to be comfortable making the loan when many others—with little experience in the industry—were not.
Our team of lending professionals shepherds our loans from beginning to end, and in so doing, we have built an understanding of business plans, strategies and visions in specialized industries, including veterinary medicine, dental, optometric and general medicine as well as self-storage and others outside of the medical field. This “full spectrum” knowledge helps distinguish us from other lenders and helps us uncover the value proposition offered by companies like Cascade Kennels.