A Canadian Foreign National needed bridge financing on a Loss of Priority Project in the esteemed Gozzer Ranch Community in Northern Idaho, Gozzer Ranch Golf & Lake Club (gozzerranchclub.com). The property just received a Certificate of Occupancy, but landscaping and concrete work could not be completed due to the onset of winter. Going through the SFG Loss of Priority Program, SFG was able to craft a loan to take out his construction lender who was calling his note and create a holdback to take the property to completion.
The sponsor had detailed records of lien releases and proof of payment for majors. He also used a renowned architect and General Contractor which helped build confidence in the build.
Our borrower can now sell the property when it is financially beneficial and when the property can show its true colors on a summer evening in Northern Idaho.
What SFG likes about the deal.
- Well organized and responsive borrower.
- Lien Releases and proof of payments on a loss of priority project.
- Discovery Land community.
- Well designed with a reputable Architect and Builder