- Loan Amount * $4,000,000
- Rate * 8.99%
- Appraised Value * $9,750,000
- Term * 12 Months, Interest Only
- Lien Position * First
Our borrower is a real estate broker and developer in the greater Scottsdale area of Arizona. We were able to provide the financing for the purchase. He will then use his own funds for the lot split, redevelopment soft costs, and refinance our loan with construction financing when the time comes.