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.
$300,000 2nd lien loan secured by a triplex near Century City
12 month term
9.0% interest rate
SDC Capital committed to this loan within 3 days of receiving the loan request and did not require an appraisal.