| |
| Borrower | A developer in Connecticut | |
| Loan | A $15 million eight month loan at 15% | |
| Collateral | 52 acres of land in Rhode Island zoned for an industrial park | |
| Guarantors | The principals of the Borrower | |
| Purpose | The loan re-financed some past due debt and enabled the Borrower to put in the infrastructure required to make the park marketable. | |
| Exit strategy | The Borrower expected to re-finance the deal to pay us off and obtain funds for the construction of pad-sites. | |
| Outcome | The loan has been repaid in full. |
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