Borrower requested a $270,000 loan to purchase a commercial property in Lakeland, Florida. The borrower is purchasing the commercial property for $240,000 while pledging a second SFR property as additional collateral to the loan. The commercial property features 1,600 sq/ft with 1 bathroom sitting on .28 acres. The borrower plans to operate the commercial property and refinance as an exit to the loan.
Collateral:
Type: Refinance
Description:
Borrower requested a $50,000 loan to refinance a single-family property in Tampa, Florida. The asset comprises 4 bedrooms and 2 bathrooms, totalling 1,884 square feet of living space. The borrower anticipates a liquidity event soon that would enable them to pay off the loan in cash as an exit to the loan.
- Loan Amount: $50,000
- Date: November 2024
