The following is a list of recent loan requests which have funded or in closing currently.
Commercial Real Estate
$2,350,000 Foreclosure saving Bridge loan for Houston Texas area land owner - Our Texas focused land lender was able to bring a commitment letter for $2.3mm to save the property from foreclosure! This loan was secured even with the borrower currently in bankruptcy! 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.
Working capital loan for Florida dentist - A Miami area dentist looking to open a second office received a working capital line for construction of a second office. This request was funded within 72 hours of receiving the borrowers application.
$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.