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02-02-2015, 11:10 AM #9
- Join Date
- Jun 2013
- Posts
- 195
We can only lend against titled assets which are free and clear (cars, trucks, trailers, and boats), and business equipment when there are no UCC's encumbering the equipment.
Although it is preferred the real estate we use is free and clear, it is not a requirement. As long as there is net equity according to our calculations, we very often take second or third position against commercial and residential real estate.
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