Cetan Funds recently funded a quick cash-out commercial refinance of a building in Hillsboro, Oregon. The borrowers have owned this building as a family for many years. Unfortunately there was some deferred maintenance that needed to be addressed, and they needed a capital infusion to get it done.
While they could have gone to a bank and been put through their extensive underwriting requirements and lengthy closing times, they decided the expediency of a commercial bridge loan from Cetan was much more beneficial.
We offered them a fast closing so they could very quickly get the capital they needed and get the repairs done. They will either refinance with a bank, payoff the cash-out commercial refinance loan with their ongoing cash flows, or eventually look to sell the building for a higher price than they otherwise would have gotten.
$100,000 at 10.0% interest only for 24 months