- Loan Amount * $1,400,000
- Rate * 8.75%
- Appraised Value *$14,990,000
- Term * 12 months, IO
- Lien Position * First
Our Borrower was in contract to purchase a neighboring farm. We were asked to make a loan on the subject property for the acquisition and build out (planting) of the neighboring farm. Our loan will be paid off from the sale of other real estate holdings.
