Loan amount
$600,000
Loan type
As-Is Property Value
$3,000,000
LTV
20% {LTV}
Property type
Commercial
Borrower Details
Credit score
690
Deal experience
2 deals
This loan scenario was submitted by a Broker
Property Details
State
Illinois
Loan Details
Additional Loan Information
3.25 acres. Former nursery converted to banquet/restaurant/bar/catering/music venue. Completely remodeled and COVID compliant. Need $400K to pay off family investor. $200K to finish outdoor renovations such as covered band shell, additional covered seating, outdoor game areas etc. Ultimately will be paid off through an SBA 7a loan. Opened June 2020. Would like 3 months interest escrowed and payoff in 6-9 months max. Nothing else is owed on the property. Property is located in Glenwood, IL (outer suburb). I am a broker representing my client.
Status
Created
August 27, 2020 - 1:47pm

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