$340,000 Acquisition in Fremont, CA
Small Business Loan: $340,000 Private Money Loan in Fremont, California
Loan Amount: $340,000
Loan Term: 12 Months
LTC: 60%
Lien Position: 1st Deed of Trust
Rubicon Mortgage Fund, LLC closed a $340,000 small business loan in Fremont, California to support an owner occupied industrial condo acquisition. This private money loan allowed a growing business to move forward after being declined by a traditional bank due to limited operating history.
This transaction highlights how a small business loan secured by real estate can provide a practical solution when speed and flexibility are essential.
Loan Overview
The borrower is a repeat and experienced client operating a growing small business that required fast financing to acquire an industrial condo for owner occupancy. While the business is operationally established, it is still considered new by traditional lenders and did not have historical profit and loss statements available at the time of application.
Because of this, the borrower was unable to secure conventional bank financing. A private money small business loan provided the certainty and execution speed needed to move forward with the purchase.
Key loan details include:
- Loan amount of $340,000
- Twelve month loan term
- Property located in Fremont, California
- Industrial condo for owner occupancy
- Small business owner as the borrower
Property Details
The collateral for this small business loan is an industrial condo located in a desirable Fremont market. The property was vacant at closing and will be used as the primary location for the business’s operations.
Property specifications include:
- Industrial condo
- Approximately 1,430 square feet
- Situated on a 0.10 acre lot
- Located within a well maintained and in demand industrial building
The combination of location, size, and condition made the property a strong fit for long term owner occupancy.
Why a Private Money Small Business Loan Was Needed
The borrower was turned down by a bank due to the lack of historical financial documentation, despite having industry experience and a clear business plan. Timing was also a critical factor, as there was another offer on the property.
A private money small business loan allowed the borrower to act quickly, secure the property, and avoid losing a competitive opportunity. Speed, flexibility, and certainty of close were key in this transaction.
Exit Strategy
The planned exit strategy is to refinance with a bank loan within two years. By occupying the property and building operating history, the business expects to qualify for long term conventional financing.
Small Business Loans With Rubicon Mortgage Fund, LLC
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