- Loan Amount * $1,400,000
- Rate * 7.99%
- Appraised Value * $3,640,000
- Term * 12 Months, Interest Only
- Lien Position * First
Our borrowers were considered too large for an SBA loan by affiliation. They are well collateralized with corporate and personal guarantees. They expect to pay off the loan in 6 months with alternative traditional financing, but they opted to take a 12 month term, just in case.
