Recently Funded Hard Money Cannabis Loan in Adelanto: $5,500,000 @14.00% Lender Rate, 1st TD, Cash-Out, 50.00% LTV
The purpose of this loan was to refinance out of a $4.5M 1st TD construction loan that’s at a higher rate, that was current, in good standing and matured in December of this year; 320k of this loan going towards 5 mos. of investor prepaid interest and the remaining 490k will be used towards expanding…