Borrower requested a $180,000 loan, to purchase a commercial property in South Tampa, Florida. The borrower paid $420,000 for the property and sold another double lot in south tampa for $255,000 simultaneously and used proceeds from the other sale as a down payment. Borrower plans to use the property for his business equipment and refinance to long term debt as an exit to the loan.
Collateral:
Type: Refinance
Description:
This is a $540,000 new construction loan request from a returning DKC Lending borrower. Once finished, the property will feature four bedrooms, four bathrooms, a three-car garage, a boat dock, a boat lift, and 2,404 square feet of living space. The borrower primary exit strategy for this loan is to sell the property.
- Loan Amount: $540,000
- Date: April 2025
