Loan amount
$9,000,000
Loan type
Refinance
{Cash-Out}
As-Is Property Value
$100,000,000
LTV
9%
{LTV}
Property type
Other Commercial
Borrower Details
Credit score
720
Deal experience
4 deals
This loan scenario was submitted by a Broker
Yes
Property Details
City
CRYSTAL SPRINGS
State
Mississippi
Loan Details
Current mortgage balance
$0
How much cash-out are you looking for?
$9,000,000
Additional Loan Information
My clients’ objective is to secure an ABL for $9M, $26M or $51M with preferred terms of 12-24 months and a 6 month prepay penalty. The loan proposed interest rate is 10.5% with 20-year amortization schedule. The collateralized mortgage note will be secured with $800mm - $2.5bn in Mississippi Sand based land assets. We have a complete file and Chicago Title Company has the full package for closing.
The company will cash flow within 60-90 days of funding as a result of the following contract opportunities:
1. UAE’s request for proposal pending … 6 years with 3-year option $3.0bn (Construction Sand, Frac Sand, and Aggregate).
2. Haliburton Tier One Supplier, Mustang Gas and Oil / Bill Smith; President has given my client a representation offer …. Beach and Frac Sand
3. Three different Hydrogen Power Plants under construction have reached out to my client regarding becoming one of its “dedicated suppliers” of Silica Flour.
4. Two major infrastructure construction companies have contacted my client regarding their needs for aggregate and construction grade Frac Sand
5. Two large scale providers of “Super High Grade” (99.7% Silica content) Silica Flour used in making “Fiber Optics” and Computer Chips are negotiating contracts with my clients sales representation.
The company will cash flow within 60-90 days of funding as a result of the following contract opportunities:
1. UAE’s request for proposal pending … 6 years with 3-year option $3.0bn (Construction Sand, Frac Sand, and Aggregate).
2. Haliburton Tier One Supplier, Mustang Gas and Oil / Bill Smith; President has given my client a representation offer …. Beach and Frac Sand
3. Three different Hydrogen Power Plants under construction have reached out to my client regarding becoming one of its “dedicated suppliers” of Silica Flour.
4. Two major infrastructure construction companies have contacted my client regarding their needs for aggregate and construction grade Frac Sand
5. Two large scale providers of “Super High Grade” (99.7% Silica content) Silica Flour used in making “Fiber Optics” and Computer Chips are negotiating contracts with my clients sales representation.
Status
Open
Created
May 5, 2024 - 3:17pm
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