Closed Loans

 

 

 

 

San Diego, CA, January 20, 2011.  The Loan Company of San Diego provided a $700,000 (1st Trust Deed) acquisition loan secured by a 4 unit multi-family apartment and a 2,500 sq.ft. owner-occupied convenience store on one parcel in Pacific Beach.  The owner occupant had been located on the adjacent parcel operating as a going concern for the last 18 years. The property was conservatively valued as a mixed-use property at a 70% LTV ratio.  The Loan Company provided the borrower an excellent term loan with a competitive private money rate. The borrower was extremely pleased with The Loan Company’s flexibility and speed in providing the purchase money loan.