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08-28-2018, 11:16 AM #1
- Join Date
- Jun 2016
- Location
- Brooklyn
- Posts
- 54
Merchant looking for advance via property value
I have a merchant that owns two hotel properties and has an advance on each. Credit is good and ledgers are very good as well with average balances over 30K. However the two positions she has, has her spending about 35k a month. She would like a better cash flow, and is looking for a lender whop will do an advance based on equity in the properties. One property is worth about 4.2 and the other about 2 million. She has a mortgage on both but LTV is still very good. The mortgages she has now have very good rates so she's not looking to buy them out. Looking for second position loan on value of property. Please direct lenders only if you may have a solution.
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08-28-2018, 11:41 AM #2
- Join Date
- Jun 2016
- Posts
- 416
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