Pubsy.com

Income Stream from Casino

Monday, August 21, 2017
Borrower   A Casino developer.
Loan   A $3,300,000 - three-year loan with interest at 15% for the first year, and 18% thereafter. There were mandatory repayments of principal which reduced the loan balance substantially in the first year. We re-instated the loan amount to $3.300,000 after one year.
Collateral   A first lien on the developer's half share in revenue streams arising from the development, and a second mortgage on his house.
Guarantors   None.
Purpose   The borrower needed the cash to finance the development of a new casino.
Exit strategy   The borrower planned to repay us from the revenue stream when the first casino reached full operational capacity.
Outcome   The loan has been repaid in full.




Pubsy.com - all rights reserved

Valid HTML 4.01 Transitional

Textures courtesy of the Absolute Background Texture Archive