Refinance funding?
Anyone have contacts for or access to debt refinancing?

Our company would like to do a 1.85M refinance, 2 years interest only, and a 20 year note @ or below 5%.  (We are offering it @ 5% because our current rate is lower, but we'd like to combine our separate notes we have out).

[{"id": "c6qa51q", "text": "The \"interest only\" is going to be the only problem to get bank financing. Other than that, I would contact a neighborhood community bank.\n\nOther than improving the cash flow, what is the reasoning behind interest only? ", "replies": [{"id": "c6qbqin", "text": "My grandmother is at the end stages of her life (our owner) and we'd like to be able to do a few things for her.  \n\nThat and do some things for me.  I've worked for less than I pay my employees for 6 years now, and my wife has been on me to either change jobs or give myself a raise (which effectively I can do, I just always plan for the worst and if we are comfortable and can make a living on what I make a year where we live then I'll get my come-uppance when due so to speak).", "replies": [{"id": "c6qc841", "text": "Difficult sale. The savings in cash flow are going to be going out to the owner and management. \n\nFrom a bank lender perspective, we do interest only in situations where the commercial property is in the process of stabilizing due to vacancies or ongoing improvements.\n\nYou seem to have already somewhat competitive rates, so the only benefit would be from consolidating the notes. I guess you could try for a cash out if the business supports a higher debt service. Hard to say without looking at the numbers.", "replies": [{"id": "c6qh2qh", "text": "Yeah, that's what we've been up against.  The bank is offering cash out against it instead - basically enough to escrow 2 years of payments.\n\nWhich - in essence - is the same thing.  At the end of those 2 years we would be back to the same amount we owe anyway.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}]