$1,200,000 Commercial Loan in San Jose, CA
Loan Amount: $1,200,000
Type: Commercial Loan
Term: 12 months
The borrower is an experienced developer who is a project manager and landlord for the last 25 years. First Bridge Lending provided financing for the borrower’s cash-out refinance allowing the borrower to remodel the property adding 3,000 sq. ft. The property is retail space located on a busy street corner of an established residential area. In 2014 the borrower purchased the property for $2,015,000.
The loan amount totaled $1,200,000 at 48% LTV for a 12-month term. First Bridge Lending originator Christopher Carey facilitated this deal and helped the client secure funding for their commercial rental property.
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FBL Track Record
Over 3,500 loans totaling more than $2 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
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