$1.8M Matured-Loan Refinance: Owner-Occupied Medical Office
Chula Vista, CA — A physician's bank loan on the building housing her own practice matured, and the SBA lender lined up for permanent financing would not proceed while the property sat in maturity default. Helvetica refinanced the debt at 57% LTV so the borrower cleared the default, kept her practice in place, and closed her SBA takeout on schedule.
The Borrower's Problem
The borrower, a practicing physician holding title through an LLC, owned the two-story medical office building where her practice operates — roughly 4,858 SF of the building's 9,900 SF, with the balance leased to five other tenants. Her existing bank loan had reached maturity and was not being extended.
She already had a path out: SBA financing through a regional bank. But an SBA lender will not fund a property carrying a matured loan. Until the maturity default was cured, the takeout was frozen — and the debt on the building housing her income source was past due.
The Helvetica Solution
Helvetica placed a $1,800,000 first mortgage against a $3.2 million appraised value — a 57% loan-to-value — retiring the matured bank debt in full at closing. The loan was written interest-only over a 12-month term with two six-month extension options, giving the borrower up to 24 months of runway against an SBA timeline she did not control.
Underwriting focused on what the situation actually required: substantial equity, a stabilized rent roll producing about $17,000 per month, a credit-strong sponsor with excellent scores and deep net worth, and a documented, credible institutional exit. Partial second-floor vacancy did not derail the file.
Benefit to the Borrower
- Maturity default cured — the condition blocking her SBA approval removed
- Practice stayed in place, uninterrupted, in the building she owns
- Interest-only payments kept carry low while the SBA loan was processed
- Two extension options eliminated the pressure of the bank's timeline
- 57% LTV preserved roughly $1.4M of equity in the property
- No forced sale of an appreciating owner-occupied medical asset
Deal Highlights
- Matured bank loan refinance / maturity default cure
- Owner-occupied medical office, partial multi-tenant income
- Bridge to SBA permanent financing
- Interest-only, 12 months with two 6-month extensions
- Strong San Diego County medical office submarket, sub-4% vacancy
Loan matured before your SBA or bank takeout closes?
Helvetica funds bridge and maturity-default refinances from $300K–$10M+ on investment and business-purpose real estate, typically closing in 3–10 days following receipt of all requested documentation.
