Successful Rush to Refinance Gentlemen Gene’s

Gentlemen Gene's Pub & Eatery is a full service family dining restaurant located in Mount Vernon, Washington and was established in 1985 by Gene Lennartz. Gary Randall purchased the business and real estate from Mr. Lennartz in 2008. Over its 25 year operating history the business has built a strong and loyal customer base. Drawing upon his previous management experience Gary has been able to capitalize on Gentlemen Gene's established market presence to successfully operate the business and position it for growth.

This is a refinance project under the temporary 504 Refinance Program with 100% of funds refinanced having originally been used for the 504 eligible purpose of building acquisition. The project property is a 3,090 square foot sit-down restaurant and pub facility, with a 645 square foot deck. The improvements are situated on a 23,000+ square foot site. A restaurant has operated at the project location for the past 20 years. Project costs included land equity, real estate refinance, and soft costs. Equipment was not part of this project.

Evergreen's expertise came through for this borrower. What makes it notable is that the application was turned into Evergreen on 8/31. It received SBA approval on 9/15 and the debenture funded in December. Our hats go off to Credit Officer Lee Ann Duckham and Senior Closing Specialist Gilda Swann for processing this application with speed and accuracy. The borrower was very grateful and pleased with the rate. Evergreen President Phil Eng said, "This is a perfect example of what our team can do. Kudos to Lee Ann & Gilda!"