• Loan Amount * $900,000
• Rate * 9.49%
• Appraised Value * $2,700,000
• Term * 18 Months, Construction
• Lien Position * First

Our borrower had plans ready to build out a 4,850 sf retail “showroom” and a 9,000 square foot warehouse for storage. The overall project is approved for 6 total buildings but our loan was to build out 2 of the 6.  Upon completion and occupancy, the borrower will refinance with more traditional financing.