Well-located in The Village of La Mesa, the toughest elements to this loan were the Loss of Priority (title challenges), underwriting a high-quality restaurant that included two commercial kitchens (valuation) and needing to be open and operating by the end of September 2018 (speed). The good news was that the sponsor was a 23x repeat client with Seattle Funding Group…and a known performer with SFG and the selected title company.
1. Strong, experienced sponsors
2. A track record of performance
3. Significant cash investment
4. 23x repeat client with a talented Team
5. A 122 endorsement from title
6. A building permit in the nick of time
7. …and a direct, portfolio lender.
Open for pizza and bier in time for La Mesa’s 2018 Octoberfest Celebration!
That’s moving at The Speed of Business. That’s Seattle Funding Group’s stock in trade.