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...
Bridge Loan to close escrow on Multi-Tenant offices
Loan Amount * $1,400,000 Rate * 7.99% Appraised Value * $3,640,000 Term * 12 Months, Interest Only Lien Position * First Our borrowers were considered too large for an SBA loan by affiliation. They are well collateralized with corporate and personal guarantees. They...
New Owners reviving neighborhood restaurant
Loan Amount * $414,000 Rate * 9.99% Appraised Value * $690,000 Term * 15 year recast amortizing Lien Position * First Successful restauranteurs sought our financing to secure this location. We were able to help them manage payments by starting with interest only...
