$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.
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 billion closed since 2012
Funded loans from $100,000 to $5 million on residential and commercial properties
CA Licensed: CFL, DRE, NMLS