A repeat client who owned a mixed-use commercial property free and clear located in Spring Valley, CA, needed a loan to purchase the liquor store business that had leased the property for over 15 years. The improvements include a liquor store and a residential rental unit.
Fidelis Private Fund provided the borrower a $500,000 1st Trust Deed refinance loan with the property having an appraised value of $950,000 or 53% LTV.
The exit strategy is to refinance with a conventional loan.
The Fidelis Private Fund helped the borrower facilitate a complex purchase of the business that occupied his property. At the same time, we made it a smooth and hassle-free process.
Another transaction where Fidelis Private Fund is helping our clients achieve their financial goals.