- Loan Amount * $1,000,000.00
- Rate * 8.99%
- Combined Appraised Value * $1,935,000.00
- Term * 60 months
- Lien Position * First
Our borrowers have owned and managed this warehouse for over 10 years. Their loan was coming due with the bank and were unable to negotiate an extension. We were able to cross collateralize the warehouse with a SFR rental in Portland to pay the bank off.