Challenge / Opportunity: Borrowers were seeking a new 2-Year term loan to pay off a maturing bank first and needed some additional cash out for improvements to the building.
Solution Provided: Redwood Mortgage funded the low LTV loan for this borrower in 1st position to provide the owner-user additional time to stabilize cash flows in order to secure an SBA loan within 18-24 months. Loan of $500,000 in First position on a well located commercial medical office building in Southern California.