Closed Loans

 

 

San Diego, CA.  The Loan Company of San Diego financed a $1,000,000 loan for the purchase of an 8,000 sq.ft. retail building on a 9,496 sq.ft. lot in the city of San Diego.  The purchase price was $1,300,000. It was a sale leaseback where the seller occupied a majority of the building and executed a lease producing sufficient cash flow to service the debt. In addition to the 1st Trust Deed on the subject property, The Loan Company also secured the loan with a 2nd Trust Deed on a 33 unit apartment as well as a 3rd Trust Deed on the borrowers personal residence.  The borrower was able to limit the cash down by putting up additional collateral as security thereby maximizing the loan amount.  The borrower was extremely pleased with The Loan Company’s ability to move fast with no hassle, making it easy to finance the purchase with competitively priced private money financing.