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| Borrower | Builder/developer in California | |
| Loan | a Three year $2,990,000 loan at 11% for the first year, 15% for the second and 18% for the third year. | |
| Collateral | 312 acres on Lake Don Pedro, a large reservoir near Modesto, CA. The land can be subdivided into 20-acre lots. | |
| Guarantors | The principal of the borrower. | |
| Purpose | The borrower was able to close on the purchase of the land for $4.200,000. | |
| Exit strategy | The Borrower expects to subdivide the land and to repay us out of the proceeds of the sale of the 20-aacre parcels | |
| Outcome | The Loan is current. |
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