Industrial Property In Fremont, CA

Loan Type:
Bridge Loan
Loan Amount:
$7,600,000
Loan Term:
2 YR
Amortization:
Interest Only
Recourse:
Recourse
LTV:
64%

Challenges

The borrower was facing a loan maturity and didn’t have financing in place to take out the current lender before the loan matured. The broker took this deal to a hard money lender, but the rate and terms were too high for the borrower. The broker thought of Money360, gave us a call, and Money360 got the deal done.

Solutions

Money360 offered the borrower a lower rate and the confidence that we would close his loan. Certainty of execution was very important to the borrower and broker. The borrower was also paying penalties to their current borrower until Money360 contacted the lender and informed them we were going to close the deal. This helped the borrower save on fees charged by their current lender.

David Christensen

Money360

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