FUNDED!

LOAN: #7461

SUBJECT PROPERTY: 725 N. Fresno St, Fresno, CA 93701

Retail Community Mini-Mart at approx 726 sq ft - Zoning is C-5

APPRAISED VALUE: $78,000.00  (view appraisal)

ADDITIONAL COLLATERAL: This loan will also encumber an additional parcel currently utilized as a parking lot owned as to an undivided 50% interest.  

LOAN TERMS

LOAN AMOUNT: $51,000.00

POSITION: 1st

INTEREST: 11%

TERM: 36 mos

LTV: 65%

There is a late charge of 10% of the payment (after 10 days)

There is no prepayment penalty on this loan

This loan contains a balloon payment

SPECIFICS: Our borrowers have been owners/operators of the subject property for 16 years and own the property free and clear.  Additional collateral will be a part of this loan as well; our borrowers have an undivided 50% interest in a parcel across the street from the subject property that is currently being utilized for parking.  The appraisal and our stated LTV do not take this additional property into account.

Information Subject to Change