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GROWTH from NAPLES to FORT MYERS spilling into DeSOTO COUNTY,FL

Monday, August 21, 2017
Borrower   A Developer in De Soto County, FL
Loan   A Three year $9,000,000 loan at 12% in the first year and 18% thereafter.
Collateral   A first lien on 308.55 acres of land located in southwest Florida’s Heartland Region in an area called Lake Suzy in DeSoto County
Guarantors   The loan is guaranteed by the principals of the borrower.
Purpose   The loan enabled the developers to close on the purchase of the property.
Exit strategy   The Borrowers hope to repay us out of the proceeds of sale of the developed lots, probably in bulk to builders.
Outcome   The loan has been repaid in full.




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