- Loan Amount * $1,200,000
- Collateral Valuation: * $4,630,000
- Term * 18 months, IO
A third partner to a couple other loans we have in this development owned his lot and wanted to construction a building. We like to work with repeat clients and that is reciprocated in that our clients trust us and know we perform. The loan will either be paid off thru a sale or refinance into long term financing once a tenant is in place.