Hard Money Cash Out Loan for Alameda Industrial Building

Two weeks ago Rubicon Mortgage Fund funded a $375,000 bridge loan secured by an owner-user Industrial Building located in Alameda, CA. The borrower is a small business owner who was unable to seek a line of credit for his business, although his company is highly profitable. The purpose of the loan was to provide the business with the working capital it needs during until it reaches a level of maturity that is self-sustaining. This 1st deed of trust bridge loan is nearly 62% loan to value with a one year loan term.