• Loan Amount: * $212,500.00
• Rate: * 10.25%
• Appraisal Value: * $425,000.00
• Term: * 24 months / 6 month, IO
• Lien Position: * First

Our Borrowers were in contract to purchase a 10 acre wooded lot. Conventional financing is tough for this collateral type. Our bridge loan was used to acquire the property and begin logging (a UCC on the timber was filed). The loan will be paid off from a combination of timber sale proceeds and the borrower’s business cash flow.