Refi on Mixed-use property in Humboldt County.
Loan Amount * $240,000 Rate * 8.99% Appraised Value * $500,000 Term * 24 months, IO Lien Position * First Our Borrowers acquired a mixed-use property and needed to refinance. The Borrowers are opening a business on the first floor and needed time to stabilize the...
20 Acre Farm with Homestead in Humboldt County
Loan Amount * $540,000 Rate * 11.14% Appraised Value * $818,000 Term * 15 years, Amortizing Lien Position * First Our Borrower was in contract to purchase a 20-acre farm in Humboldt County and traditional financing was difficult for two reasons: loan size and acreage....
Cash out Refi of a Lumber Mill in Sonoma County
Loan Amount * $2,400,000 Rate * 10.50% Appraised Value * $5,500,000 Term * 12 months, IO Lien Position * First Our borrowers had recently moved to a new location and needed capital to acquire inventory. We were able to provide the necessary capital via a cash out...
Purchase of Timberland in Humboldt County
Loan Amount * $1,000,000 Rate *9.50% Appraised Value * $2,000,000 Term * 12 months, IO Lien Position * First Our Borrowers were in contract to purchase ~400 acres of timberland. They were approved for financing from a local bank but were advised it would be difficult...