Single Family Residence
SDC Capital funded a $495,000 loan for the purchase and renovation of a single family residence in Riverside, CA. Unlike most lenders, we allow for cross-collateralization and provided our borrower with 100% purchase financing, plus an additional $35,000 to cover closing costs and provide cash-out proceeds to help fund the property's renovation. Additional collateral for the loan was comprised of junior liens on other investment property. The interest rate was 8.99% and we charged 1 point. This bridge loan was funded in November 2016.