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07-14-2017, 03:31 PM #1
Owner of Quarry in CT Valued Conservatively at $3MM Seeks $1.5MM Loan
Anybody can lend on a quarry, doing a no-nonsense hard money loan? Points or rate don't matter, within reason. I want 2-3 pts.
Preferably should be a 24 month loan, giving the borrower time to generate revenue.
There is already a $4MM Purchase Order set for a third party to co-occupy the quarry, but nothing's happening until the borrower gets working capital. $1MM lien needs to get paid. Once that's done, work can begin within a matter of weeks, as all permits are now in place.
Previous owner got shut down, thinking he could fool around w/ permitting. Quarry was making over $1MM/yr with the owner just LEASING. This owner will not only utilize but lease the quarry. He had seen $80,000 in just 2 weeks. The potential is there. Keep interest reserves, as needed. They just need a 24 month loan.
If you can really do this or know of a hedge fund/lender that will, give me a shout.
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