Address: Fort Lauderdale, FL 33316
ARV: $800,000 (As-is)
Loan Amount: $300,000.00
Loan Structure: 12 Months Interest Only
Interest Rate: 12%
LTV 38%
Borrower Profile: Primary Residence
Work Description: Business Capital
Loan Purpose: Cash Out
September 23, 2024
In January 2022, a sponsor bought a $650,000 home as their primary residence, paying for it in full. Later, they had an opportunity for a business contract but lacked the necessary liquid capital to invest. Since the sponsor’s home was owned outright, they approached us for assistance. We provided them a $300,000 loan at a 12% interest-only rate in just eight days to fulfill the investment requirement. The sponsor needed a short-term 12-month loan, funded in September 2024, to repay this debt.
