Universal City, California Funded Stated Income Loan

Property Type: Commercial Nigh Club & Single Family Residence

Lien Position: 2nd Trust Deed

Loan Amount: $200,000.00

Appraised Value: $1,700,000.00

LTV: 59%

Loan Rate: 12%

Loan Type: Business Purpose

Occupancy: Non-Owner Occupancy & Owner Occupied

Term: “36” Months Interest Only

Commercial Nigh Club located in Universal City, California where our company funded a $200,000.00 2nd Trust Deed Hard Money Loan

Universal City, California – Our Borrower was referred to our company when he was looking to raise additional business capital to open a 2nd Jazz club location.  Our Borrow owned a well-known Universal City jazz club and wanted to open another Valley location.

Due to him already having a 1st Trust Deed on the commercial property it became necessary to Cross-Collateralize the requested 2nd Trust Deed loan against his personal residence as a Business Purpose loan.  We were able to comply with all required government regulations for funding a Business Purpose loan and our Borrower was able to obtain the requested funds to open that 2nd location.