In business, there are occasionally unforseen circumstances that lead to last minute changes. In this case, the loan was delayed due to environmental inspections This led to amendments on the sale contract and eventually a change to our loan amount.  Upon sending out an updated Letter of Intent to our borrower, the loan was closed 1 week later!

Loan Amount: $1,200,000

Loan Term: 24 months

LTC: 50%

Loan Position: 1st Deed of Trust