Metro Funding Closes a $2,300,000 Loan

PARAMUS, N.J., July 16, 2009 -- Metro Funding Corp. (MFC) recently closed a $2,300,000 loan for the refinance of two operating Car Wash Facilities in Lewisville and Prosper, TX.

The borrower approached MFC in order to refinance its current debt and provide working capital for a planned marketing effort. The borrower’s original bank filed for bankruptcy and was taken over by the FDIC, leading to a forced maturity of the note. Due to the short period of time allowed by the FDIC to refinance the properties, the borrower needed a quick source of capital in order to avoid foreclosure and loss of his business. When asked about the reason for funding this deal, Senior Underwriter, Joe Adler, mentioned, "Metro Funding is pleased to fund deals that keep businesses afloat in order to strengthen our current economy.” Both car washes are currently running successfully.

Metro Funding Corp., headquartered in Paramus, NJ, is a commercial real estate lending company specializing in asset-based opportunity (hard money) loans. Metro Funding Corp. provides domestic and international loans to corporate entities.

Web site: http://www.metrofundingcorp.com/