Funding Purpose
Provided SBA financing for a local business in Los Angeles
Property Description
Office building located in Beverly Hills off Olympic Blvd.
Sponsors
Escrow company located in Los Angeles that was looking to expand their business. They found an off-market opportunity in a prime location off Olympic Blvd. that could help with their marketing efforts
Challenges
- Tight closing window
- First-time Commercial Real Estate Buyer
- Older building, built in the 1930s
Solutions
- We were able to make certain third-party reports a post-closing stip
- Strong business cash flows provided a variety of strong lending options
Funding
- Loan Amount (LTV): $5,715,000 (90% LTV)
- Interest Rate: 3.21%
- Amortization: 25 Y
- Term: 25 Y
- Recourse: Recourse
