2011 Results

$6,000,000 Multifamily/Apartment loan in Texas. The borrower had been approved by other lenders for a lower dollar amount on the refinance. Our loan was 75% LTV, non-recourse, 5.63 fixed interest rate for the 10 year term. This loan included cash out of $1.5 million to the borrower.

$400,000 Line of Credit to an online retailer in Utah. This company was denied by Chase Bank for credit. The borrower’s primary banking relationship was with them. The line was secured by inventory.

$8,500,000 Construction/Mini-Perm loan to medical facility in Utah. Borrower had another offer on the table from a competing bank. Our construction loan interest rate was 1% less than the competition. Our long term rate was 0.60% less than the competition. The savings will be over $240,000 in the first 5 years of the loan request. This borrower didn’t pay anything more to the Hoffman Consulting Group then they would have paid going directly to the lender.

$100,000 Start Up medical distribution business. The loan was backed by inventory valued at 75%. A repurchase agreement with the wholesaler was established to increase collateral value. The borrower put cash equity of 33% of the total project down.

$200,000 Operating Line of Credit for another start up. The business manufactures a widget used in the personal care industry. The business has one year of operations under their belt and has proven the market. This line of credit has a borrowing base of 80% LTC on inventory.

$200,000 Start up Frozen Yogurt restaurant in Florida. This was a franchised business but the borrower first location. The borrowers had extensive success with another restaurant franchise.

$689,500 Church Loan. This was a local church that had been turned down by several lenders. The church wanted to purchase their building from the landlord. This was a conventional mortgage at 70% LTV.

$1,950,000 Bridge Loan. The business was in need of a loan quick and had significant real estate assets free and clear that could be pledged. This business bridge loan was closed in 22 days. It could be considered hard money or private money.

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