A returning client of Fidelis Private Fund sought to replace an expiring commercial line of credit with more advantageous terms. This financing was to be secured by a 2-unit commercial retail property in the heart of North Park, a vibrant San Diego, California community.
The borrower’s aim was to secure extended-term financing, with a preference for a 5-year duration. Fidelis Private Fund does not fund conventional loans so, we leveraged our extensive network of lender relationships to identify a conventional lender capable of providing the desired long-term loan structure and the necessary leverage requested by the borrower.
As a result, Fidelis Private Fund successfully organized a 1st Trust Deed refinance, securing a $1.6 million revolving line of credit with a 5-year note, resulting in an estimated Loan-to-Value (LTV) ratio of approximately 58%.
(The subject loan was arranged through Fidelis Private Brokerage, acting as the broker on the transaction).
The Fidelis Private Fund helped the borrower arrange a higher leveraged line of credit, secured by a 2-unit commercial retail property. Our goal is complete customer satisfaction, and if the loan request doesn’t fit Fidelis Private Fund as a direct lender, we find the right lender with the best loan terms for the borrower.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.