TERMS:
Loan Amount: $2,700,000
Loan Term: 24 months
Interest Rate: 10.5% per annum
Payment Structure: Interest-only payments of $23,625 per month, paid monthly
Loan to Value (LTV): Approximately 56%
ď‚·Amortization: Interest-only payments, no principal repayment until end of term
Total Interest Payable Over Term: $ (24 months at $567,000)
Borrower Profile:
Personal Guarantees: Borrowers to provide personal guarantees
Financial Stability: Borrowers have ample reserves and demonstrate strong financial
standing ($200k)
Credit Rating: Borrowers possess perfect credit scores, ensuring minimal risk(800FICO)
Property Ownership: Borrowers own the property, with clear title
Exit Strategy: Loan will be repaid through traditional financing at the end of the 24-
month term.
Collateral:
The loan will be secured by a first lien on the property located at Palm Springs, CA 92262
Property is valued at 4.815 million.
Appraisal: An independent third-party valuation was completed September 2024,
supporting the 56% LTV ratio.
Insurance: Borrowers will maintain appropriate insurance coverage for the property
during the term of the loan.
Covenants:
Maintenance of Property Value: Borrowers will be required to maintain the property in
good condition and take all reasonable steps to preserve its value.
Default Clause: In the event of default, the lender reserves the right to call the loan and
initiate foreclosure proceedings on the property.
Prepayment Clause:
ď‚·There will be no prepayment penalty for early repayment of the loan.
Ready to Ask For Funding for your company?
Post a Funding Request