Loan Type: Property Type: LTV: Location: Loan Amount: Rate: Term Prepayment Penalty:
Private Money Loan Purchase Commercial Property 60% Santa Rosa, CA $800,000.00 11% 5 years 1 year |
Scenario: Funds were to purchase 2 commercial properties. There was not enough equity to do the loan with subject properties so California Private Money Lenders encumbered the borrowers personal residence for the additional collateral needed. After several improvements to the property borrowers will be able to secure an SBA loan.