Deal Status

Active

Property Address

2450 PLAINFIELD NE, GRAND RAPIDS Michigan 49505

Requested Loan Amount

$125,000

Loan to Value

75%

Loan Term

36 months

Lien Position

1st

Collateral Type

Commercial Property

Exit Strategy

Refinance

Collateral and Loan Details

Commercial Property Type

Retail

Retail Property Types

Restaurant

Cannabis Business

No

Number of Units

1

Current Occupancy

Owner Occupied

Current Occupancy Percentage

100

Loan Type

Refinance

Square Footage

1,800

Current Market Value

$164,996

Existing Mortgages

1st

Mortgage 1 Balance

$124,998

Equity Cash Out

No

Equity Cash Out Purpose

Improve Subject Property

Have Appraisal

No

APN Parcel ID

41-14-08-154-003

Will additional properties be collateralized?

No

Borrower Entity

LLC

Borrower Credit Rating

Poor

Attachments

First Name

TOM

Last Name

KIM

Phone Number

(616) 888-1815

Company

COMMERCIAL LOAN GROUP LLC

Role

Mortgage Broker

Location

GRAND RAPIDS, Michigan

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