Loan amount
Loan type
Refinance {Cash-Out}
Property value
26% {LTV}
Property type
Other Commercial
Credit score
Deal experience
12 deals
This loan scenario was submitted by a Broker
Current mortgage balance
How much cash-out are you looking for?
Additional Loan Information
I own a small business called HODGEPODGE and retail a wide variety of reconditioned items. I own all of the inventory outright without lien. I have started and operated this business as the only owner and only employee. I handle all of the marketing, advertising, sales, inventory, daily reports, recording, client services, memberships, accounting, storage, transportation, delivery, and all other aspects. I have an online store now on the market at for which I am the domain owner. I've rented, as well, a new retail space in Portland Oregon now open for business and generating revenue. I have a 7000$ mortgage on a separate property located in a different county also in the state of Oregon for which my monthly payment is 360$. I would like to hire someone to be me and continue running the Portland location. Then I would pay off the property mortgage to obtain complete ownership and the ability to permit the property for the use of opening a new retail location that would service a different community from Portland. The assessed value of my inventory is over 47,000$ and the properties value is at 13,000$ as is. The building for the new location i also own is valued at 6,700$ without any mortgage and would only have to pay to move the building onto the property and for the permits to do so. I need my capital to continue to maintain the business, to hire employees, to maintain rents, and warehouse facilities. The renovations to the property would more than double it's value and the additional revenue the business would generate would be existential as it would service a rural community with few accomodations and without competing businesses. With a small capital loan to help expedite the expansion I could easily repay said loan within less than 6 months of opening and with substantial interests (profitablity). I have numerous assets to secure such a loan including the property of which lien would be placed and which is currently valued equally to the desired borrowing amount. I am open to business partnership, shared revenues, shared operations control, and creative solutions for attaining maximum potential. Open to suggestions, guidance, advice, sponsorship, partnership, and other business services. Currently generating monthly revenue ranging from 6,000 to 15,000 USD per month. My current financial obligations total roughly 1,800$ per month. I currently have around 10,000$ in liquid capital.
December 19, 2023 - 6:13pm

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