Cetan Funds recently funded a commercial bridge loan in Bend, Oregon. The borrower owned a 40-acre parcel with a large shop and other facilities where he operated his business. He needed a lender who could close quickly, provide him cash-out to help fund the coming year’s business operations and to provide funding for improvements to the property, including the installation of a well and a septic tank. We were able to meet his needs with a customized commercial bridge loan and provide him enough funding to achieve his goals while giving him the time he would need to get a more traditional refinance later from a local bank.
$520,000 at 11% interest only on funds outstanding for 24 months