Featured LoanOffice Condo Private Money Loan
Loan Amount: $180,000
Loan-To-Value: 50% LTV
Term: 36 Months
Situation & Challenge
The owner-user of this office condominium wanted to cash-out $150,000 to invest in a new product to sell online. Obtaining a bank loan would take too long and would likely result in the application being denied due to the still restrictive credit markets.
The owner wanted to close within two weeks to place the order for the new product line.
Solution & Result
First Capital Trust Deeds worked with a private mortgage fund in Southern California on a 36-month commercial private money loan that closed within ten days.
The client received funds to complete the order and about $20,000 in additional cash out to use for operating capital.