Project Description

Loan Type: Construction

Challenge

Being experienced developers and investors, building permits were on hand and a general contractor with experience was selected. What was stopping this project from starting was:

• Low liquidity and equity due to having multiple construction projects on hand
• Strong investor of the project was unable to guarantee the loan
• Majority of borrowers net worth could not be verified

Solution

Grand Pacific understands the difficulties of simultaneous constructions. In order to alleviate some weight off the Sponsor’s shoulder, we:

• Provided 100% of construction cost with  more than the full term payment reserve
• Trusted their experience and provided more than double the “as is “ value

Ultimately, we were able to meet our Sponsor’s financial requests, which acted as a catalyst to start this project.

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