These Boots Are Made For Walking: KSI Capital Makes $1.4 Million Loan To Shoe Mania
Paramus, NJ, May 5, 2005 -- Shoe Mania, Inc. owner Mark Cohen was delighted to find Henry Haskell, of KSI Capital, and to benefit from the knowledge of a lender who "really knows his stuff." That stuff included a $1.4 million loan from KSI Capital, a creative, private lender based in Paramus, New Jersey, that will allow Shoe Mania to renovate and expand its flagship store at Broadway and Union Square in New York City.
Mr. Cohen, a successful owner of the four stores in the Shoe Mania empire, remarked that the entire borrowing process with traditional lenders had been awful. "Slow. Bureaucratic. Aggravating," are some of the words he used to characterize his dealing with the conventional financial institutions.
On the other hand, Mr. Haskell, the President of KSI Capital, expedited the process with decided speed and efficiency, closing the $1.4 million loan in about two weeks.
Shoe Mania is one of the premier footwear merchants in the city, stocking an incredible forty brandsâ€”everything from Adidas to XOXO, and covering selections from comfort shoes to athletic footwear to fashion favorites. The loan will allow Mr. Cohen to completely re-do his main store, from the HVAC systems to the entire storefront,Swiss replica watches including some expansion. The process can begin as soon as he lines up the contractors, as opposed to waiting for weeks more just to get the loan approved.
"I'd rather pay a little more and have less hassles than deal with the traditional money sources again," he said. "Whatever it costs me now I will make back that much sooner by having my renovation complete. In fact, I hope to do business with Henry Haskell and KSI Capital again -- the experience was that good."
Mr. Haskell pointed out that KSI Capital has other advantages as well. "We can evaluate the entire business, development, land parcel” whatever is involved in the loan request. We base our decisions on the quality of the project and available collateral, and it gives us much greater freedom than that of the restrictive, narrow-focus banks. That's why we came through for Shoe Mania, and have several other significant deals in the works."
KSI Capital is attracting a broad cross-section of corporate and individual borrowers, ones who know they will be dealt with fairly, honestly, and with a rapid drive to closing. KSI uses generous loan-to-value ratios for all the loans they make, which includes acquisitions, commercial land development, refinancing, bankruptcies, and more.