We faced major obstacles to securing financing; including a serious cash deficit, an inability to pledge a mortgage and a management and project team without FHA 242 experience. InnoVative Capital successfully structured our financing, avoiding a significant cash requirement and creating a first-of-its-kind leasehold security pledge. They were available around the clock to advise the working group. With their help, we successfully closed our loan and became the first district-owned CAH to use the FHA 242 program.
