Palm Springs, California Funded Loan

Property Type: Single Family Residence

Lien Position: 2nd Trust Deed

Loan Amount: $350,000.00

Appraised Value: $950,000.00

LTV: 55%

Loan Rate: 12%

Loan Type: Business Purpose

Occupancy: Non-Owner Occupancy

Term: “18” Months Interest Only

Single story house located in Palm Springs, California where our company funded a $350,000.00 2nd Trust Deed Private Money Loan

Palm Springs, California – Our client needed to raise $350,000.00 for an immediate business opportunity for an on-line products website with a well-known celebrity where he would be a 50% partner.  He informed us that it was a great opportunity for him but he needed the raise the funds fast.  Since he was a successful investor and owned several properties we determined that the best property for us to finance was his Palm Springs, California vacation house. We structured a loan as a 2nd Trust Deed and since the property was so incredible and on a golf course we no problem funding the loan for him.  We have stayed in contact with the Borrower and the business is doing just great!!!!!