Loan amount
$5,400,000
Loan type
As-Is Property Value
$7,500,000
LTV
72%
{LTV}
Property type
Commercial / Restaurant
Borrower Details
Credit score
542
Deal experience
None
This loan scenario was submitted by a Broker
Property Details
State
Michigan
Loan Details
Additional Loan Information
Me and business partners are looking for a business loan to buy a land in Muskegon County MI, construct a very nice restaurant/bar with all equipment, licenses and everything needed to begin operations. Purchase price of the land $400K. Construction budget $5M. Timeline of 6-9 months. Post-construction estimated value of $7.5M. Seeking 100% financing. Not yet in contract. Plan to own/operate the restaurant once completed. Maximum loan duration preferred.
Status
Closed
Created
March 1, 2020 - 7:42pm
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