Type of the loan: Bridge Loan
The loan provided client necessary funds swiftly to purchase a special purpose property in 7 days. + Tangled environmental issues hovered over the subject property over its history.
Grand Pacific faced mounted challenges to achieve our client’s goals—Close in 7 days. Our clients were rushed to close the deal in one week due to pending sale from a creditor-bank. The property also faced environmental issues coupled with being a special purpose property, unpaid tax and short fuse closing time and required a precision in execution for “Quick Closing”.
Grand Pacific was able to step in and help the project by providing the funding needed to complete the deal where conventional lenders could not deliver.
Recognizing our clients clean credit history and sound business plan to utilize the property, GP assisted in the environmental cleanup and set up additional fund structure. With all the challenges solved GP was able to achieve our client’s goals to purchase the properties in a very short time. The whole team in Grand Pacific was able to perform with excellence and once again won the reputation in market place.