- Loan Amount: $225,000.00
- Rate: 11.00%
- Appraisal Value: $525,000.00 & $900,000.00
- Term: 18 months
- Lien Position: Second
The rare instance that we made a second lien loan is when we have the first. In this case, our borrower needed $225,000 and had ample equity, just not a free and clear asset. We were able to make the loan and use two properties as collateral, the existing commercial property we already had and a 5 unit house/apartment combo.