Loan amount
$1,200,000
Loan type
As-Is Property Value
$2,000,000
LTV
60%
{LTV}
Property type
Commercial / Feed mill
Borrower Details
Credit score
680
Deal experience
5 deals
This loan scenario was submitted by a Broker
Property Details
State
Missouri
Loan Details
Additional Loan Information
New construction feed mill. Purchase existing building and install new equipment. 15 years experience in the business. I have multiple intent to contract products. I just sold out of a company where we ran pellet production and designed and built pellet facilities. The purchase price for the existing facility is $375K. The equipment and fabrication and install cost is $825K. The estimated value after completion is $2M. The location is in Mount Vernon Missouri. It is a 30,000+ square foot facility in an industrial park. We are looking for a 15 year loan but would consider a short term loan for the 5 month construction phase and then get a bank to take over. So maybe a 1-3 year loan to get started.
Status
Closed
Created
January 28, 2020 - 6:12pm
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