Press Release: $760K Refinance

Fairview Commercial Lending, a privately funded lender, is pleased to announce the closing of a $760k "asset-based" loan on a mini-warehouse and strip mall in Dayton, OH.

Deal Challenges
•  Borrower currently in default with their present loan.
•  Payoff on defaulted loan was much higher than anticipated
•  Numerous liens on the property including (IRS, local property taxes, unpaid water, etc...)
•  Property currently not cash-flowing (road construction severely restricted access to the property for 5 months)
•  Borrowers credit extremely low due to default and liens
• Complex legal structure that took significant effort to work through

Fairview Solutions
•  Current default not a problem
•  Fairview negotiated with the bank for a short-pay on current note to make the deal work
•  Fairview's legal counsel spent countless hours working through all the liens, judgments, and corporate structure to ensure that we had a clean title to close
•  Fairview was able to understand the true value of the property even though it was not currently operating to its potential
•  3 year loan / interest only / non-recourse
•  Loan funded prior to foreclosure
•  When time is of the essence Fairview funds

Do you see loans that do not seem to "fit the box" of traditional lenders?

We can help. Fairview specializes in asset/equity-based lending on commercial real estate. We can lend to both credit impaired borrowers and on properties that are not currently cash flow producing. We also can lend on properties that are in or nearing foreclosure or are currently listed for sale. Our experience allows us to quickly understand the value of a property and fund shortly thereafter.