Pubsy.com

Monday, December 18, 2017
Borrower   A developer in South Carolina
Loan   $1,380,000 three year loan at 12% the first year 15% the second, and 18% the third year
Collateral   a first lien on the 58 unsold slips in the Friendfield Marina in the Harmony development near Georgetown, SC.
Guarantors   The principal of the Borrower
Purpose   The Borrower needed the funds to finance the ongoing development of the multi-phase subdivision.
Exit strategy   The Borrower expects to repay us out of the sale proceeds on the boat slips.
Outcome   The loan is current.




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