Retail and Light Industrial Construction
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...
Renovation Capital for Repeat Borrower
Loan Amount * $100,000 Rate * 9.00% Appraised Value * $320,000 Term * 12 Months, Interest Only Lien Position * First Our return borrower enjoys rehabbing and renting single family homes. The rehab was complete and owned outright. He needed funds for another rehab he...
Lot purchase to construct car wash for experienced borrower
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...
Bridge financing for owner acquisition
Loan Amount * $1,115,000 Rate * 8.49% Appraised Value * $2,160,000 Term * 12 Months, Interest Only Lien Position * First Our Borrower owns and operates gas stations. He purchased a gas station and C-mart in a rural area with seller financing that was maturing. Since...
