I am pleased to announce the late 2018, early 2019 loan closings;
Commercial Real Estate
$650,000 Bridge loan for Austin Texas area land owner – Our Texas focused land lender was able to close this project in less than 30 days during the holiday season. The client needed to refinance a few obligations, and the equity in his land provided the collateral needed to get the loan done. Land loans are challenging, fortunately a strong bridge lender I have closed prior Texas deals with was able to provide the funding needed.
$550,000 Fix and Flip loan in Chicago – The quickest closing I have ever been part of, a fantastic Chicago based lender provide a $300,000 cash out and a $250,000 rehab loan on a Chicago 4 unit. From the time of the first meeting to closing = 10 business days! The client was very organized, had all required docs ready to go for underwriting, and the lender executed seamlessly.
Asset Based Loan closing
$700,000 Line of credit backed by receivables – Louisiana client with significant credit challenges and high MCA balances was able to secure much need funding to pay off their high interest debt at a much lower cost of capital and get their companies finances pointed in the right direction to start the new year. We worked with the client to leverage their account receivables into the liquidity needed to turn their business around. Since the funding, the company has had much better cash flow.
I wish you a fantastic 2019 and look forward to partnering with you on future projects!