• Loan Amount * $1,425,000
• Rate * 8.49%
• Appraised Value * $2,850,000
• Term * 12 Months, Interest Only
• Lien Position * First

Our Borrower is successful in carwashes and convenience stores. He was in contract to purchase a parcel of land entitled for a carwash. Land is difficult to finance so we were asked to make a bridge loan while   the borrower worked on the CUP and obtained construction financing.