- Loan Amount * $1,350,000
- Rate * 11.89%
- Value * $2,050,000
- Term * 15 months, Fully Amortizing
- Lien Position * First
Our borrower is building two 17,000 square foot light industrial buildings. They will owner occupy two units and lease out the balance. The tenants will be a mix of manufacturing, distribution, etc. The borrower has invested significantly into the project so far, including the purchase of the lot, purchase the buildings, and soft costs. Our loan will complete the construction of the buildings.