Helping A Nursery Business Grow
$700,000
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Clackamas County, OR
Our Borrowers were looking for capital to grow their nursery operation. When the current credit crisis caused traditional lenders to shy away from certain types of lending classifications, even for these well-qualified Borrowers, we were able to assist with transitional financing that will allow them to take care of their growth during challenging economic times while positioning themselves for traditional takeout financing when it becomes available again.
Stimulus Check
$200,000
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Clatsop County , OR
A long standing boutique retail shop in a small Oregon coastal community had suffered a poor sales year from weather related problems and needed working capital to jump start the operation. ReProp was able to quickly fund a relatively small commercial loan without an appraisal. ReProp was able to match the borrower’s needs of “playing it safe” by providing a long term fully amortizing loan with a short prepay period.
Mixed Collateral
$420,000
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Long Beach and Fresno County, CA
A Long Beach real estate investor looking to purchase distressed residential properties needed to leverage other commercial real estate owned. Reprop was able to provide a two part refinance secured by single tenant retail buildings and a small almond farm, each in different counties. A transitional loan will allow the borrower enough time strengthen the borrower’s profile and refinance once the credit market returns.
Adjusting With The Market
$350,000
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Sacramento County, CA
With the residential market busted, this residential related business had experienced significant hurdles due to slower sales, higher accounts recievable, and the loss of its bank credit line. ReProp was able to perform cash out refinance on a 5 acre industrial lot in Sacramento County that the borrower had previously purchased for the business’s expansion. ReProp was able to help the borrower pay down account receivables and replenish working capital for transitioning the borrower’s business plan to better suit the approaching market.
Ranch Refinancing
$2,000,000
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Klamath County, OR
This borrower needed cash out for investment purposes on a ranch operation that had been recently retooled from a recreational property to an operation that generates income and would be able to support reasonable debt. Since the primary source of repayment is projected income the borrower’s usual lender couldn’t finance the property. ReProp was able to fund the loan on a transitional basis – when credit markets reopen and the ranch income has some history under its belt, this highly qualified borrower will be able to refinance.
90% Purchase Money in Conjunction with SBA
$662,580
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Sacramento County, CA
Our borrower needed a new location for his transport and limousine business. He had a difficult time finding a conventional lender who would provide financing in conjunction with an SBA funded second lien. ReProp was able to structure loans totalling 90%. Just like his limos, the process was a smooth ride.
Flexible Terms for Non-Traditional Property
$350,000
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Humboldt County, CA
ReProp funded a first lien on an excessive acreage, rural two-parcel property that had two separate dwellings. Rather than declining the loan since the existing manufactured home was not on a county recognized foundation, we funded the majority of the loan and will work with the borrower to obtain proper County papers, which will complete the borrower's goals of perfecting the property.
Stanislaus County, CA
Our borrower found themselves in a catch-22 position: With plenty of equity in their commercial property, and good cash flow from their residential care facility, it seemed like it would be easy to refinance with their local bank. However, even though the bank was very interested in the loan, they couldn't refinance with the existing revolving credit balances. We provided transitional financing via a partially amortized loan so the borrower could refinance their credit card debt, with a short pre-payment period so they can refinance after our loan has seasoned.
Helping During the Credit Crunch
$770,000
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Los Angeles County, CA
Our borrower began construction on a new home in Los Angeles, anticipating that a bank would step in with construction financing when he was ready. Although very well qualified with a bonified takeout loan comitment, our borrower was caught by the credit crunch, with a half-completed home and declining property values. We worked closely with our construction manager and the title company to ensure a lien-free position, and provided the funding necessary to complete the project.
Complex Mini-Perm Financing Needed
$3,448,250
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Marion County, OR
Our borrower needed construction financing for his proposed light industrial storage facilities. This complex construction project in two separate locations totalling approximately 273,000 SF requried coordination between the borrower, two of his operating entities, an appraisal team, pre-leased tenants, the borrower's banker, contractors, the City of Salem and the title company to arrive at a successful conclusion.
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Santa Clara County, CA
This was an extraordinarily complex transaction that required a team of two law firms, borrowers located in CA and MI, five different legal entities, and ReProp staff willing to work over the Labor Day weekend to put together a $3.5 million loan in one week. ReProp's action allowed the borrowers to take advantage of a highly profitable opportunity.
SBA Financing for Historic Property
$767,000
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Humboldt County, CA
ReProp took a referral from a local bank, then partnered with the City of Arcata and with Arcata Economic Development Corporation to provide SBA 504 financing for the conversion of an older movie theater to an entertainment venue serving all ages. Our participation assisted in transforming a dark site near the hub of Arcata’s business area to a vibrant place for people to congregate for concerts, family and special events.
Check out the local story from the Arcata Eye!
Retail - Quick Transitional Loan
$150,000
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San Joaquin, CA
ReProp structured a two part loan, the first to take care of the borrowers' pressing needs to dissolve a partnership; the 2nd to fulfill the borrowers' needs of improving the subject property. We advanced funds to the Borrower without an appraisal and were able to fund a transitional loan with no lock out period or prepayment penalty. A couple weeks later we received a letter from the borrower:
"Thank you so much for your help and kind support. You were there when we needed you. Your professionalism and personal attention made my wife and I very comfortable through this whole process."
The CCLOC+ Rocks
$600,000
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Alameda County, CA
Our borrower wanted to invest funds on a short term basis into a family owned rock quarry business and didn’t want to wait for traditional bank financing. We were able to have the property appraised and fund the loan in just over 3 weeks. What’s even better is that the CCLOC+ (Convertible Commerical Line of Credit+) loan perfectly fits their needs: they can pay off the loan any time after 6 months with no penalty; because the is a line of credit they only pay interest on what they use; and if they decide to make the investment a long term capital contribution, they can amortize the loan over up to 20 years. We like smoothing our borrower’s rocky roads.
Agricultural Refinance
$200,750
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Lake County, OR
Our borrower requested that we refinance some interest only and high interest debt as part of their overall restructure of family business debt. We provided term debt that met their requirements, including semi-annual payments to match their crop income.
Commercial Line of Credit - Multi Family
$165,000
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Humboldt County, CA
Our borrowers were looking for a cost-effective way to finance improvements to certain rental properties they owned. Our CCLOC+ (Convertible Commerical Line of Credit+) allowed them to use equity in a 5-plex for a line of credit which they can later convert to permanent financing if they choose. Because ReProp allows 2nd liens for qualified borrowers, they also preserved an excellent fixed rate for the first lien loan.
Shelter Cove - SBA Financing
$2,127,000
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Humboldt County, CA
We were approached by a local bank to assist their customer with an SBA 504 loan that was already approved by the SBA. Because of our banking contacts, and our relationship with the Arcata Economic Development Corporation, we were able to put the financing together in less than a month!
Ag Property Purchase - 11 Day Turnaround
$400,000
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Klamath County, OR
When another lender dropped out because they couldn’t fund the purchase of an ag property in Oregon at the 11th hour, ReProp stepped in and funded in 11 days. We used our contacts to obtain a price opinion virtually overnight, and coordinated loan documentation long distance. The strength of our network of contacts is one of ReProp’s key strengths.
Office Interim SBA / Construction Hybrid
$1,590,000
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Sacramento County, CA
Our borrower needed to close on a purchase transaction for a $3.85MM new office building within a very short amount of time. We were asked to be the 2nd mortgage interim lender for SBA 504 financing, since other traditional lenders had declined. We funded $1.59MM 2nd lien with a 90% CLTV, while cross-collateralizing with a cold shell office building our borrower owned next door. Not only was our deal funded in one week, but we set up construction financing for tenant improvements on the adjacent cold shell office building as part of our loan structure, keeping the borrower’s cost low!
Farmland / Restaurant Creative Collateral Solution
$1,252,000
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Baker County, OR
We were asked to finance the purchase of a farm for a family that had recently relocated to Oregon. They had a reasonable down payment but told us they wanted to retain some funds for working capital. We took the farmland and a landmark restaurant they owned as security, which allowed them to reduce the amount of their total down payment.
Quick Help
$428,500
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Marion County, OR
This loan was referred to us when the borrower found that he couldn’t obtain traditional bank financing. He raises buffalo and sells its jerky to Native American business operations. After making a site visit and using an appraisal performed for another lender with alternative income verification, we were able to provide the transitional financing he needed within three weeks, in time to pay the balloon loan off when it was due.
Retail - Customized Line of Credit
$500,000 - 2nd Lien
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Fresno County, CA
We were asked to provide our exclusive Convertible Commercial Line of Credit Plus(CCLOC+) , in second position for a niche retail mall for the borrower's use in taking advantage of other investments. This loan was tailored to meet the borrower's requirements - instead of requiring that they fit our loan product box, we extended our typical term to allow them the time they needed to bring their business plan to fruition.
Agricultural Working Capital
$366,000 - 2nd Lien
Butte County, CA
This farmer was referred to us by their bank as a historically good customer whose financial position was affected by a weather-related loss carry-forward on his crop line. He needed a transitional loan to inject capital into farm operations to meet his bank’s loan covenants. We placed a second on his farmland behind another bank’s low interest rate first, allowing him to retain a good interest rate on the first. We made this loan with an internal valuation instead of a full appraisal, saving the borrower both time and cost.
When Income Isn't Stabilized
$1,475,000
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Shasta County, CA
The borrowers recently completed the second phase of a new self-storage facility. Their bank was not comfortable offering them a take out loan until they stabilized the income. So we stepped in to make the loan that will bridge them until their bank can make the loan. We funded the loan prior to their bank’s deadline.
Organic Financing
$767,000
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Marion County, OR
This loan was to a Oregon dairy farmer who had recently converted his dairy to organic – a three year process. Although he now has substantially better income, there were problems he needed to take care of. We were able to refinance the property based on projections, supported by one year of increased revenue verification, with sufficient cash to take care of those problems. This transitional financing will allow the borrower to generate the cash flow history necessary to refinance with his bank.
After ReProp and the appraiser made independent site visits, we funded a loan prior to obtaining the appraisal. This allowed the borrower to take care of his pressing needs, and we advanced additional funds after receipt of the appraisal.
Body Shop - Commercial Line of Credit
$450,000
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Placer County, CA
This borrower needed a line of credit to assist with their business operations. While their primary business showed recent losses due to circumstances outside their control, their business property had attributes that allowed us to make a loan. We left their first lien in place (it had a very good interest rate) and provided a $450,000 line of credit under our exclusive Convertible Commercial Line of Credit Plus(CCLOC+).
Subdivision Financing
$643,000
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Del Norte County, CA
Our borrower needed financing for development of a 12-lot subdivision in a small town in Northern CA. We provided phased financing to complete the subdivision but also fulfilled on the borrower’s request to provide a sufficient loan term allowing him to either sell lots in bulk or build spec homes.
Project Home Construction
$211,250
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Del Norte County, CA
We initially financed the Crescent Pines Estates subdivision for this borrower. This is the third home we’ve also financed construction for. The first home is under contract for sale. We anticipate financing construction of homes on all 12 lots in the subdivision.
Bridge Financing
$1,375,000
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Umatilla County, OR
Our borrower has a rather unusual property for sale, and wanted to take care of some business obligations by refinancing the property. We took the property for sale along with a leased farm property and funded the his immediate needs without a new appraisal. After obtaining new appraisals, we advanced additional funds. The loan is structured to allow him to sell the subject property when he finds the right buyer.
Golf Community Development
$2,300,000
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McDowell County, NC
We helped a borrower who had a very short window of time to purchase and restart development of a stalled golf community. We worked in partnership with another lender to structure a deal that provided sufficient flexibility for the borrower while taking care of our investors at the same time.
Mitigation Property Financing
$1,760,000
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San Diego County, CA
Our loan provided takeout financing and additional funding for the costs necessary to bring this environmental subdivision acreage in Southern California to mitigation land bank stage. We worked closely with the borrower and a number of experts to provide financing in line with the value of the property, while providing sufficient capital for the mitigation land bank reports, processing, and marketing work.
When The Bank Can't Help
$1,425,000
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Tuolumne County, CA
This excellent customer of the referring bank needed short term financing on unimproved subdivision land, a type of loan the bank was not making. We made the loan secured by a first on the unimproved land, with a second on a self-storage income property for a total package that fit exactly what they needed. We were also able to meet their requests for flexibility when we funded the loan in less than 30 days.
No Need to Refinance
$600,000
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Napa County, CA
We had an existing loan that we purchased secured by a building parcel in the Napa Valley with a lovely panoramic view, adjacent to our borrower's winery. When we saw a demand come in on the loan, we gave the borrower a call, and he said that he needed some additional cash out. We were able to provide the additional funding for a modest fee, without requiring a new appraisal, and as quickly as we could exchange information with the title company. Along with some fabulous wine, the borrower told us, "You were a dream to work with."
Helping Take Care of Business
$510,000
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Calousa County, CA
These farmers are great customers of the banks who referred them to us during a tight cash flow period. This family operation needed transitional assistance with prior year supplier accounts and current year expenses. As we frequently do for many of our loans when our borrower’s needs are pressing, we funded the loan in two stages, designed with the first advance coming shortly after their request and the final advance after the appraisals were complete.
Transitional Financing
$756,500
Jefferson County, OR
These farmers had excellent credit and equity in their real estate, but were referred to us because their farm had some losses and their 3-year average cash flow did not meet a bank’s requirements. We were able to look at the upward trend in cash flow and use that as the basis for our financing, providing them the transitional funding they need to even out their cash flow and allows their bank to refinance our loan in a couple of years.