Address: Miami, FL 33129
ARV: $2,490,000 (As-is)
Loan Amount: $800,000.00
Loan Structure: 12 Months Interest Only
Interest Rate: 13%
LTV 35%
Borrower Profile: Experienced Investor
Loan Purpose: Cash Out
October 8, 2023
We granted a cash-out loan of $800,000 in the first lien position, which is secured by a 1998 Hawker 800XP aircraft manufactured by Raytheon (Textron) and based in Miami. The Hawker 800XP has an estimated appraised value of $2,490,000, bringing the loan-to-value (LTV) ratio to 32%. The borrower intends to use the funds for their business expenses. The loan term is set for 12 months, and the interest rate is 13%.
