Century City, CA
2-4 Units Residential
In July 2017, SDC Capital funded a cash-out 2nd lien loan on a triplex near Century City for a repeat borrower. Our borrower attempted to obtain a conventional loan secured in 2nd position by his triplex but at the last minute, the bank denied him. He came to us needing a quick closing due to the last minute denial and we were able to accommodate him by committing to the loan within 3 days without requiring an appraisal. We work hard to provide great service to our borrowers as our goal is for all borrowers to become repeat borrowers. SDC Capital committed to this loan within 3 days of receiving the loan request and did not require an appraisal. The interest rate was 9% and the loan term was 12 months.