| |
| Borrower | Hotel owner in Sint Maarten (Dutch side of the island of St. Martin) | |
| Loan | One year, $1,350,000 loan at 15%. | |
| Collateral | The collateral for the loan was the borrower's 99-year leasehold interest and 51-year option on 148 acres of waterfront property in Cay Bay in Sint Maarten. The property is approved for a 380 key traditional hotel and casino, a 200 unit timeshare resort, 60 residential villas and 40 single family homes. | |
| Guarantors | The loan was guaranteed by the American lawyer who is the owner of the borrower. | |
| Purpose | The loan was required to finance repairs and renovations necessary to bring the hotel back up to international standard. | |
| Exit strategy | The borrower expected to refinance the loan on maturity. | |
| Outcome | The loan was refinanced and paid in full at maturity. |
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