Escondido, CA. August 2018.
A repeat borrower was interested in purchasing a multi-tenant office building and with a short escrow, knew first hand that he could rely on The Loan Company to provide quick financing in order to meet the purchase opportunity deadline.
The Loan Company provided a $560,000 1st Trust Deed bridge loan secured by two investment properties for a combined 64% LTV ratio. The subject office building has sufficient rental income to service the debt.
The exit strategy is to make cosmetic changes to the property, bring rents to market, then refinance with a conventional lender. The Loan Company provided the borrower an excellent short-term bridge loan at a competitive private money rate and terms.