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Finance for Commercial Development

Monday, December 18, 2017
Borrower   A developer in Connecticut
Loan   A $15 million eight month loan at 15%
Collateral   52 acres of land in Rhode Island zoned for an industrial park
Guarantors   The principals of the Borrower
Purpose   The loan re-financed some past due debt and enabled the Borrower to put in the infrastructure required to make the park marketable.
Exit strategy   The Borrower expected to re-finance the deal to pay us off and obtain funds for the construction of pad-sites.
Outcome   The loan has been repaid in full.




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