Closed Loans

San Diego, CA.  January 26, 2010.  The Loan Company of San Diego refinanced a $500,000 (1st Trust Deed) on a BMW auto dealership 8,446 sq.ft. corner parcel lot with a 1,705 sq.ft. sales office.  There is a long term ground lease generating sufficient cash flow to service the debt. The Loan Company had made an existing 10 year loan that matured, and The Loan Company elected to refinance the loan with no cash out.  There was considerable principal paydown over the term of the original loan resulting in a conservative loan (less than 50% LTV ratio).  The borrower was pleased with The Loan Company doing the refinancie and making it quick, easy and hassle free.