- Loan Amount: $600,000 (Car Wash)/$600,000 (Gas Station)
- Rate: 7.99%/8.99%
- Appraisal Value: $ 1,350,000 (Car Wash)/$1,250,000 (Gas Station)
- Term: 24 months
- Lien Position: First
The Borrower is an experienced real estate investor who needed equity out of his free and clear Car Wash to buy a Gas Station. We were able to provide the cash out of the Car Wash and finance the purchase of the Gas Station in two separate loan transactions.