ATLANTA, Georgia—Peachtree Group announced that it has entered into a definitive agreement to acquire First Western SBLC, Inc., doing business as PMC Commercial Trust, a Dallas-based nationwide direct lender specializing in Small Business Administration 7(a) loans. The closing is subject to the receipt of the U.S. Small Business Administration’s consent, as well as certain other closing conditions.
“This acquisition will allow Peachtree to expand its credit platform while bringing the speed, creativity, and certainty we’re known for into the SBA lending space,” said Greg Friedman, Peachtree’s chief executive officer and managing principal. “PMC was founded by my grandfather, Dr. Fred Rosemore, over four decades ago to help entrepreneurs access capital and pursue their business goals. Bringing that legacy into Peachtree’s platform will be both personally meaningful and strategically powerful, enabling us to deliver fast, flexible financing solutions to small business owners nationwide.”
Following the closing of this acquisition, Peachtree will offer small business owners access to SBA 7(a) loans ranging from $50,000 to $5,000,000 to finance acquisitions of real estate or other businesses, purchase equipment, provide working capital, and refinance existing debt. This lending solution provides a capital source for smaller transactions, particularly in the hospitality sector, and will extend Peachtree’s ability to serve owners across a variety of industries.
PMC, an indirect subsidiary of Creative Media & Community Trust Corporation (“CMCT”), is one of only 12 Small Business Lending Companies (“SBLCs”) actively licensed by the SBA to originate 7(a) loans. Since its founding in 1983, the firm has helped entrepreneurs access growth capital and holds the SBA’s Preferred Lender Program (PLP) designation, granting delegated authority to place SBA guarantees on loans without prior SBA review.
“Expanding into SBA lending is a natural extension of Peachtree’s vertically integrated platform,” added Michael Harper, president, hotel lending for Peachtree. “With PMC’s PLP designation and focus on hotel owners, along with the network of relationships we can leverage through our originations team, we will be able to provide efficient capital solutions for smaller transactions while supporting small business growth in hospitality and other industries. This addition will broaden our credit capabilities and strengthen our ability to deliver strong returns for investors.”
