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: New Construction
Description:
Borrower has requested $125,000 to complete construction of a two-story, wood-frame duplex in Augusta, GA. Each unit of the duplex will offer 1,580 square feet of living space, with 794 square feet on the first floor and 786 square feet on the second. The borrower’s primary exit strategy is to sell the completed duplex.
- Loan Amount: $125,000
- Date: October 2026
