I have a real estate investment Company in Iowa who is purchasing an Assisted Living Facility with 14 Suites. They already have a 504 SBA loan for the purchase but still need money for the down payment and extra money for working capital. They are looking for at least $200K but really want $400K.

Their total real estate assets are worth around 6.9 million with liabilities around 4.9 million. They own 21 income homes. They also own 2 24 unit apartment complexes that they are willing to cash out on. The apartments are worth around $2,500,000 and the 1st loan is for $1,734,000. That would put the LTV around 70%. A loan for $200K would put the CLTV at around 78%. The yearly rental income is $342K with expenses being around $112K.

There are 2 principals of the Company and both have a credit score between 700-720.

The Assisted Living Facility deal is supposed to close by 7/15 so time is of the essence.