$600,000 Commercial Loan in North Highlands, CA
Loan Amount: $600,000
Type: Commercial Loan
Term: 24 months
The borrower is a full-time real estate investor with some commercial experience who was looking to purchase a commercial property in the North Highlands neighborhood of Sacramento, CA. First Bridge Lending provided a short-term loan for the investor to acquire the subject property, which is a retail building at 70% occupancy that features a variety of small stores. The borrower planned to invest $100,000 in renovations to improve the property and then keep it as part of their diversified rental portfolio.
The loan amount totaled $600,000 at 24% LTPP for a 24-month term. First Bridge Lending originator Louis Bardis facilitated this deal and helped the client secure funding to purchase the retail property.
Quick process puts you in touch with decision makers
Loans funded in 3 business days
In-house underwriting, no appraisal required
FBL Track Record
Over 2,000 loans totaling more than $1.35 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
CA Licensed: CFL, DRE, NMLS