Cetan Funds recently funded a cash-out refinance for a homebuilder in Woodburn, Oregon. This experienced builder is in the middle of building out a small subdivision he developed. Unfortunately due to rising interest rates and a market slowdown, a few of his finished homes have taken longer than anticipated to sell. He found himself short on cash to continue building and keep his crews busy through the winter. So, he turned to Cetan Funds for help.
We were able to quickly leverage the homes he has for sale and get him the cash he needed. He immediately started pouring foundations on two new home starts and his crews are happy to be back at work. This fast-funding bridge loan from Cetan Funds is exactly what he needed. We all anticipate the loan being repaid upon sale of the first two homes within the next 3-6 months.
Loan Purpose
Location
Woodburn, Marion County, Oregon
Loan Terms
$300,000 at 10.0% interest only for 12 months
