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Finance for Factory in Jeffersonville, IA

Monday, August 21, 2017
Borrower   Factory buyer in Jeffersonville, IA
Loan   A $1,800,000 - five-year loan with interest at 12% for the first year, and 18% for the remaining years.
Collateral   A first mortgage lien on industrial buildings containing 280,279 square feet and 30 acres of land at in Jeffersonville, Indiana, and valued at $3 million.
Guarantors   The borrower's owner.
Purpose   The Borrower wanted to buy the factory, which was very attractively priced. Time was of the essence, as the deal had to close quickly or it would be lost.
Exit strategy   The borrower planned to repay us from re-financing proceeds.
Outcome   The loan was re-financed within three months, and we were repaid in full.




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