Whittier, California Funded Loan

Property Type: Commercial Banquet Hall & Small Commercial Office Building

Lien Position: 2nd Trust Deed

Loan Amount: $200,000.00

Appraised Value: $900,000.00

LTV: 65%

Loan Rate: 12%

Loan Type: Buusiness Purpose

Occupancy: Non-Owner Occupancy

Term: “24” Months Interest Only

Commercial Banquet Hall & Small Commercial Office Building located in Whittier, California where our company funded a $200,000.00 2nd Trust Deed

We were contacted by our Borrower when he needed to raise additional business capital to better fund the operation of his Banquet Hall business.  The business was currently under funded and the additional capital would provide the cash cushion the business required.   He currently had both a 1st & 2nd Trust Deeds, so it was decided to cross-collateralize our loan on another commercial property he owned and to pay off his current 2nd Trust Deed with balance of our loan as Cash Out to our Borrower after closing costs.