30 Aug Nelson Funding Closes $9,100,000 Refinance
Nelson Funding is proud to announce the recent closing of a $9,100,000 refinance in Heber City, Utah. Our client had completed the first phase of a large condo hotel development and needed to refinance their current lender. Nelson Funding was able to arrange a bridge to a permanent solution for our client despite the current hesitancy in the market due to Covid-19. Our client had been successful in selling out their first phase and built a strong reservations list allowing Nelson Funding to leverage the strength of the deal and secure long-term financing with a trusted capital partner. The $9,100,000 loan represents a 60% LTV at a 7.5% interest rate.
Nelson Funding is a nationwide commercial loan broker and correspondent lender helping borrowers get the best financing for their respective projects. Nelson Funding has provided financing for over 75 projects and placed more than $500mm of capital. Nelson Funding has the experience to get almost any project funded: from new construction to cash-out refinances, land development, and more. If you have a scenario you would like us to review, send us an email at email@example.com or visit our webpage at nelsonfunding.com/apply-now.