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…