PlattPointe Capital recently closed a $1.525 million private money bridge loan secured by a childcare facility located in Denver, CO. The total duration from receiving the package to closing was three weeks.
PlattPointe and a California-based private lender structured an interest-only loan that allowed the borrower to utilize the existing equity in three properties. The borrower required a $460,000 cash-out to purchase a business. The borrower’s exit strategy is to refinance into term debt once the business stabilizes.