Loan Type: Construction
Our Client who was returning for the 3rd time, was seeking a higher leveraged loan in order to construct their newest construction project.
• The subject was located in an area with below average public safety
• Project would be a pioneer for buildings of its kind in the neighborhood
• The lack of precedent raised questions regarding its sustainability
Although we were comfortable with the Client, the above factors gave us reasons to be cautious.
We provided the bulk of construction cost for this project while providing a lengthy payment reserve.
• Experienced rehab contractors and investors
• Successful clients, with financials to prove
Despite the ambiguity of the project, we carefully analyzed the situation was able to fulfill our Client’s goals.