Success Story
A first-time owner-developer needed capital quickly to finish a nearly complete project: a residential leased group residence home for women recovering from trauma, plus a newly built 9-unit studio building on the same parcel. The borrower wanted a simple loan without a rigid construction draw schedule.
Fidelis structured a $250,000 first trust deed revolving completion loan, representing less than a 10% LTV ratio.
The borrower plans to refinance or hold long-term once the project is complete and the new units are leased.
Value Added
Fidelis looked past the property’s unusual use to the strength of the collateral, and gave the borrower a revolving line he can draw from in large increments as contractor invoices come due. That kept the loan simple, with no draw-schedule paperwork, while funding the last stage of a mission-driven housing project.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.