Loan proceeds are to be used for pre-development work of a franchise fast food concept outparcel. The loan will be paid off via a construction loan from a conventional lender for vertical construction.
loan overview
$425,000
loan priority
1st. Mortgage
loan type
Capital for Site
loan to value (LTV)
41%
appraisal value
$1,030,000
interest rate %
10%
term length (months)
12 months
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