Glendale, California Funded Loan

Property Type: Auto Repair-Former Gas Station

Lien Position: 1st Trust Deed

Loan Amount: $150,000.00

Appraised Value: $1,400,000.00

LTV: 13%

Loan Rate: 9%

Loan Type: Investment Purpose

Occupancy: Non-Owner Occupancy

Term: “24” Months Interest Only

Street view of a small commercial building located in Glendale, California

Glendale, California – The Borrower in Glendale, California was in need of funds for a business opportunity that was presented to the Borrower. The Subject Property was currently in escrow to be sold for $1,400,000.00 but due to the pressing business purpose he could not wait until escrow closes, then estimated to be 60 days at the time he contacted our company for real estate financing.

The property was located on a major street in Glendale, California. The property was formally a gas station and the underground storage tanks had been removed long ago and had been signed off by the City of Glendale. The current usage of the property was as an auto repair center.

The Borrower had great credit and strong income but could not wait for time the big banks take to close their loans. The total time from loan application to funding was just over 1 week and the Borrower was very with the loan and our company’s service.

$150,000.00 1st Trust Deed Hard Money Loan at 9% in Glendale, California. The Borrower was very with the loan and our company’s service.

Our clients plan for paying back the loan is to either refinance the loan or sell the property prior to the maturity of the proposed loan in Glendale, California.