Nelson Funding Closes $1,000,000 Second-Lien Bridge Loan in Draper, UT

Nelson Funding recently closed a $1,000,000 second-lien bridge loan in Draper, Utah.

The loan is a cash-out refinance in second position, so the borrower kept their existing first loan in place and still pulled out the capital they needed. Most banks won’t lend behind another lender, and that’s a gap we fill.

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Transaction Highlights

• Loan Amount: $1,000,000
• Location: Draper, UT (Salt Lake County)
• Loan Purpose: Cash-out refinance
• Lien Position: Second lien

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“Sometimes the smartest move is to leave a good first loan alone,” said Dylan Nelson, Founder and President of Nelson Funding. “Taking a second position let this borrower get to their equity without starting over.”

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Need to tap your equity without refinancing your first loan? Contact Nelson Funding at 801-845-0092 or NelsonFunding.com.

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About Us:

Nelson Funding is a nationwide commercial loan broker and direct lender helping borrowers get the best possible financing for their respective projects. Nelson Funding has provided financing for over 80 projects and placed more than $600mm of capital, from new construction to cash-out refinances, land development, and more. We specialize in construction funding, bridge funding, and conventional term financing.

With deep capital-market relationships and an experienced team, Nelson Funding places high-leverage debt across all deal types, including land development, single-family construction, multifamily construction, industrial, office, retail, hospitality, special-use, cannabis, and more.