- Loan Amount * $600,000
- Rate * 9.99%
- ReProp’s Value * $1,575,000
- Term * 12 Months, Interest Only
- Lien Position * First
Our borrower is selling an equestrian facility. This property type takes time to sell due to the pool of buyers. We were asked to refinance the Borrowers loan and to consolidate other business debts while the property was marketed for sale. A lot of lenders would require the borrower to pull the property off the market but not us, we were able to structure the loan to fits the borrower needs.