Commercial: Bakery in Eureka, CA
Loan Amount * $475,000 Collateral Valuation: * $740,000 Term * 24 months, First Lien, IO Rate * 9.99% Our Borrower currently supplies about 10 wholesale customers with bread and pastries. He has many more who want his products, but he is the only one working. When the...
Residential: Multi-Unit Bed & Breakfast in University Town
Loan Amount * $380,000 Collateral Valuation: * $825,000 Term * 24 months, First Lien, IO Rate * 8.99% A versatile property close enough to the university to be long term rentals for students, yet rural enough to be a short term weekend get-away rental. The borrower...
Commercial: Rate and Term Refinance of Exotic Car Dealership, Costa Mesa CA
Loan Amount * $2,075,000 Collateral Valuation: * $4,300,000 Term * 18 months, First Lien, IO Rate * 8.89% Extension of current financing with refinance while finding a great buyer. Our borrower is preparing to sell his real estate. The current tenant is an exotic car...
Construction: Motel Renovation Northern California
Loan Amount * $800,000 Collateral Valuation: * 3,300,000 Term * 12 months, First Lien, IO Rate * 9.50% Opportunity to renovate during COVID shutdown makes occupancy difficult for hospitality industry. Cost overruns on a major remodel caused our borrowers to need...
