$475,000 | 2nd Trust Deed Purchase Loan | Paramount, CA

$475,000 | 2nd Trust Deed Purchase Loan | Paramount, CA

$475,000 | 2nd Trust Deed Purchase Loan | Paramount, CA The borrower was looking to acquire an industrial warehouse to operate their meat distribution company, but the seller was only willing to sell the property if the buyer continued renting to the existing tenant for up to 18 months allowing them to relocate. The seller’s caveat caused a disruption with the borrowers SBA financing. Our bridge loan enabled the borrower to make the purchase of the building with the same leverage offered by the SBA with additional cross collateralization of their owner occupied condo. The borrower will be able to move into the property once the tenant relocates and will refinance with SBA financing.