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
Loan Rate: 12%
Loan Type: Business Purpose
Occupancy: Non-Owner Occupancy & Owner Occupied
Term: “36” Months Interest Only
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.