$680,000 | 2nd TD Bridge Loan | Los Angeles and Murrieta, CA
$680,000 | 2nd Trust Deed Bridge Loan | Los Angeles and Murrieta, CA
Two business partners who owned a mail service business together were seeking a $680,000 2nd TD loan on two of their investment properties to pay off an SBA loan. The borrowers had a blanket SBA loan on their business, shipping trucks, place of business, and two other rental properties. The borrowers were looking to sell the business and trucks on their own so they needed to pay off the debt to get all properties released. We funded a $680,000 2nd TD loan to fund the remaining portion the borrowers needed to pay their SBA loan off. The borrower paid off our bridge loan off with the funds received from the sale of the business/trucks. We can close transactions between 5-15 days with no appraisal or 3rd party reports required.