Finance for Ski resort in Idaho

Saturday, May 25, 2019
Borrower   A Ski resort developer in Idaho.
Loan   A $18,000,000 - three-year loan with interest at 12% for the first year (paid in advance), and 18% for the second and third years.
Collateral   A first mortgage lien on the Borrower's property in Idaho, consisting of some 2,000 acres of mountain suitable for a ski resort .
Guarantors   The principal owner of the borrower, whose net worth was represented as exceeding $100 million.
Purpose   The Borrower was able to meet its obligations to employees and contractors, and continue constructing the ski lifts and other facilities, and proceed towards closing of the first lot sales.
Exit strategy   The borrower planned to repay us from the proceeds of developed lots in the resort.
Outcome   The loan was repaid in full out of the proceeds of an equity infusion by a new investor. The resort development is highly successful. - all rights reserved

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