• Loan Amount * $1,700,000
• Rate * 9.50% 
• Appraised Value * $4,250,000
• Term * 18 Months, Interest Only
• Lien Position * First

A repeat borrower owned a number of vacant parcels in a medical complex. He had seller financing that came due. Our loan refinanced the seller financing and we will be paid off with construction financing once the borrower is ready to commence construction.