| |
| Borrower | The family trust of a real estate developer in New York. | |
| Loan | A $1,200,000 - three-year loan with interest at 12% for the first year, and 18% for the second and third years. | |
| Collateral | A first mortgage lien on the borrower's 45% interest in the ownership of a shopping center in White Plains. The shopping center produces sufficient excess cash to pay the interest on our loan. | |
| Guarantors | The Trust's beneficiary, who is also the Developer. | |
| Purpose | The beneficiary, a former New York property developer, wishes to get back into the business, and is raising cash to do this. | |
| Exit strategy | The borrower plans to repay us from profits made from real estate development. | |
| Outcome | The loan is current. |
© Pubsy.com - all rights reserved
Textures courtesy of the Absolute Background Texture Archive