Tacoma, WA
Amount Raised: $13,000
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Interest Paid: $1,950
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Return Paid to Lender: $14,950
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Term Length: 2 months
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Amount Raised: $13,000 - Interest Paid: $1,950 - Return Paid to Lender: $14,950 - Term Length: 2 months -
This property in Tacoma was already renovated and sitting on the market. The borrower needed capital for holding costs including taxes, utilities, and insurance while awaiting a buyer. The loan term was set for 2 months. When the property did not sell immediately, the borrower requested two 60-day extensions. We communicated with the lender throughout each extension request. The property sold in early December and the lender was paid back in full.
