| |
| Friday, July 30, 2010 |
| Borrower | A Condominium developer in Kissimmee, FL | |
| Loan | A three year $7,200,000 loan at 12% rising to 18%. | |
| Collateral | A 118 room Hotel just one mile from the Maingate Entrance of Walt Disney World, and other collateral | |
| Guarantors | The principal of the Borrower. | |
| Purpose | The loan will enable the borrower to close on the purchase of the hotel, upgrade the facilities, and sell off the rooms as Condominium/Hotel units. | |
| Exit strategy | We expect to be repaid out of the proceeds of sale of the units. | |
| Outcome | The loan has been repaid in full. |
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