Alameda County, CA – $600,000
Our borrower wanted to invest funds on a short term basis into a family owned rock quarry business and didn’t want to wait for traditional bank financing. We were able to have the property appraised and fund the loan in just over 3 weeks. What’s even better is that the CCLOC+ (Convertible Commerical Line of Credit+) loan perfectly fits their needs: they can pay off the loan any time after 6 months with no penalty; because the is a line of credit they only pay interest on what they use; and if they decide to make the investment a long term capital contribution, they can amortize the loan over up to 20 years. We like smoothing our borrower’s rocky roads.