- Loan Amount * $750,000
- Rate * 9.99%
- Appraised Value * $1,825,000
- Term * 12 Months, Interest Only
- Lien Position * First
Our borrower is an owner-operator but had trouble finding employees and had to stop operations for a time. The borrower was ready to begin operations again and requested a loan for start-up capital. The loan will be repaid from a combination of cash flow and bank refinancing.