- Loan Amount * $1,340,000
- Rate * 9.99%
- Appraised Value * $3,580,000
- Term * 12 Months, Interest Only
- Lien Position * First
A repeat borrower of ours was in contract to purchase the subject property in an off the market transaction. The location was great for light industrial development with the easy access to I-10. Our loan will be paid off with a construction loan.