Done Deal! Hard Money Loan in Redlands: $1,470,000 @ 9.50%, 1st TD, Hotel, Cash-Out, 60.00% LTV

Successful hospitality business owners sought a 1st TD Business Purpose Cash-Out refinance on their multi-million dollar Motel 7 West in Redlands, CA. The borrower’s family have owned this property since 1982.  Proceeds from the loan will pay off an existing $650,000 1st TD, provide funds to paint the property and slurry the parking lot and also pave…

Closed! Hard Money Cannabis Loan in Adelanto: $550,000 @ 15.75%, 2nd TD, Cash-Out, Commercial, 55.00% CLTV

Mortgage Vintage borrower is seeking a $550k business purpose 2nd TD on this commercial building in Adelanto, CA. Borrower’s recent $5.5M 1st TD is current and held by Mortgage Vintage. 100% funds from this 2nd TD will be used towards purchasing another high output cultivation system to maximize production and meet borrower’s climbing product demand.…