Loan amount
$2,279,500
Loan type
As-Is Property Value
$3,000,000
LTV
76%
{LTV}
Property type
Commercial
Borrower Details
Credit score
550
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
Connecticut
Loan Details
Additional Loan Information
We are a 501 (C) (3) Veterans Corporation, 206 Inc. We’ve been in operation for 4 years, our corporation was founded by US Military Veterans and much like the military, the firm’s day to day leadership is held to manage under the utmost integrity.
We have a real-estate project that we are trying to get funded. Our real-estate consists of a total of 76.2+/- acres of land. With a total of 3 commercial building and 1 residential building. This land covers city of Middletown, (56.4 +/- acres) (Middlefield, (15.4 +/- acres) and Meriden. (4.4 +/- acres) Appraise value is $3,000,000.00
We are looking for funding in the amount of $2,279,500.00 Million; we have a contract to purchase for $2,279,500.00
Our organization has been submitted to CT. Bonding Commission in the amount of $2,600,000.00 plus $260,000.00 from City of Middletown. Here is our funding problem- why we need hard money/angel funding. This property is being sold through Probe-Bate Court. Bonding funds is being held-up by Gov. Due to his Toll’s for the state. Therefore funds can be held-up for year or more, and Courts are not willing to wait for State funds to be granted to our Veterans Organization.
We have a real-estate project that we are trying to get funded. Our real-estate consists of a total of 76.2+/- acres of land. With a total of 3 commercial building and 1 residential building. This land covers city of Middletown, (56.4 +/- acres) (Middlefield, (15.4 +/- acres) and Meriden. (4.4 +/- acres) Appraise value is $3,000,000.00
We are looking for funding in the amount of $2,279,500.00 Million; we have a contract to purchase for $2,279,500.00
Our organization has been submitted to CT. Bonding Commission in the amount of $2,600,000.00 plus $260,000.00 from City of Middletown. Here is our funding problem- why we need hard money/angel funding. This property is being sold through Probe-Bate Court. Bonding funds is being held-up by Gov. Due to his Toll’s for the state. Therefore funds can be held-up for year or more, and Courts are not willing to wait for State funds to be granted to our Veterans Organization.
Status
Closed
Created
November 2, 2019 - 11:01am
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