It’s again the deal of the month. We’re at 507 Ashland and 501 Ashland. We provided acquisition financing for 507 and then the owner got subsequent bank financing. He had a million dollar loan on 501 Ashland and the building is worth at least 1.7 million. He needed some money but he has a prepayment penalty on the loan and would have to redo an origination fee to get any cash out. He came to me and we did a small temporary loan and saved him tens of thousands of dollars and got him the money he needed.
If you’d like to do something similar, give me a call at 651-387-3026.