[Sunrise Capital]

Anyone interested in this file- We're looking for funding on the following deal:

RE builder / developer - small amount of large deposits. Drop off in deposits over the last 2 months, they've got money being held in escrow which will be released upon getting over certain hurdles in their building project, and then ultimately selling property:

Aug / July: No substantial deposits
June 7K deposits
May 31K deposits
Apr 130K deposits
Mar 264K deposits
Feb 227K deposits


They've got a property worth 5.1M, with a current mortgage of 1.5M on it. So there's significant equity to work a 2nd LOC using the property as collateral

[bgibbsfastadvance]

Hey,

I do have have an asset based lending program that may work. Shoot me an email and we can talk further. Now with the significant decline in deposits the rate will be a bit higher, because it is high risk, however, with 3.6m in equity available I'll be able to get a better rate than most. bgibbs@fastadvancefunding.com

[Jstarr]

Depending on property type & Location, and assuming that the value and mortgage balance is what you've stated - i would take a out the first and provide 12-24 months interest only terms with no PPP.

not interested in industrial or gas stations.