- Loan Amount: $210,500
- Rate: 8.75%
- Appraisal Value: $500,000
- Term: 36 months
- Lien Position: First
Our borrower purchased this store in 2005. While he had never been late on a payment, the loan was no
longer bankable. We were asked to provide a 36 month bridge loan while he works on his credit. Within the
timeframe, our borrower should be ready again for bank financing.