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South Florida -
BOCA RATON, FL — Matt T. Weaver has launched The Finance Group Worldwide, LLC, a newly established commercial financial firm which will specialize in mortgages and lending for shopping centers, restaurants, multi-unit buildings and many other forms of commercial properties. Weaver, president of the company, is partnering with Athan “Tom” Prakas, president/broker of the restaurant and commercial brokerage firm The Prakas Group, Inc. to launch this financial division. The Finance Group is located at 703-705 E. Palmetto Park Road, Boca Raton, FL, 33432 and can be reached at 561-368-0003.
Matt T. Weaver has closed over $650 million in lending transactions, having previously served as president for over 10 years for Capital Mortgage of South Florida Inc. in Boca Raton and Coral Springs, FL, where he specialized in multi-unit, residential & commercial lending.
The Finance Group will provide commercial loans, SBA loans, equity financing and non-collateralized restaurant financing. In addition, The Finance Group will represent a private fund which can handle loan sizes up to $100 million with the ability to close loans within 10-12 days. “Through our private money source we are able to lend strictly on an asset-based level, which will disregard credit scoring, purchase price, financials, etc.,” states Weaver. “We are also able to obtain up to 75% loan-to-value while competitors are at 65%.”
Weaver grew up in the restaurant business and is familiar with the challenges that restaurant owners face when seeking property loans. He comments, “Banks are often hesitant to lend to restaurants because they are single use properties and considered high risk. It is extremely important to select the right financial firm that understands the ins and outs of the business in order to close the deal.”
Weaver knows the steps to take to secure financing for owners. And, he is pleased to have Tom Prakas as a partner. “Our association with The Prakas Group gives us a ready source of clientele,” he says. “We look forward to assisting the various parties involved in the restaurant and commercial sales transacted by Tom’s group. The Finance Group will also work closely with The Prakas Group’s franchise division led by Randy O’Donnell.”
Tom Prakas is excited about the formation of The Finance Group. “Matt’s company will be a great asset to The Prakas Group,” he says. “He knows how to secure financing for my commercial and restaurant clients and goes after the deal until it’s a success. Aligned with The Finance Group to offer assistance with lending and financing, The Prakas Group can offer even more value in its full service approach to clients.”
Through Weaver’s relationships, The Finance Group has contacts with over 50 banking institutions and direct relationships with Wall Street sources. According to Weaver, the Finance Group can be competitive with any bank to provide loans for properties of all sizes, from independent freestanding restaurants to large Publix anchored shopping centers. “Due to the number of transactions I’ve closed plus the volume we will produce for Prakas Group clients, The Finance Group will offer the most competitive rates available,” he notes.
Weaver also emphasizes, “The client has a big advantage when working with a knowledgeable broker versus a bank simply because a broker offers more options and less red tape. Of course that’s assuming the broker selected provides the most competitive rates, fees and personalized service. I look forward to putting my financial experience to work toward great results for clients.”
For more information on The Finance Group, contact Matt T. Weaver at 561-368-0003 or visit the firm’s website at www.financegroupworldwide.com.
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Originally posted 2007-10-30 00:00:00. Republished by Blog Post Promoter
