Loan Type: Bridge – Refinance and Cash Out
Because of an impending maturity date and their desire for a full term payment reserve, our borrower was seeking a lender with a reputation for high approval rates and flexible plans.
Borrower provided information showed:
• Tenant was recovering from past financial challenges
• Non-profit sponsor
It was up to Grand Pacific to find the means to fund this deal.
When conducting a site visit, we were greeted by competent professionals and a building in great condition.
Feeling confident about our borrowers, we quickly analyzed the information on hand and approved the loan due to:
• Our acceptance of pocket to pocket to leases
• Decades of experience in operating their business
• Tenants transitioning in to profitable finances
• An acceptable LTV