T-MAX Lending LLC provides a $15,000,000 loan commercial loan to a NY based contractor.
Dec 15, 2023
December 15, 2023
T-MAX Lending LLC is pleased to announce that it just successfully closed a $15,000,000 commercial loan to a New York based contractor that has been in business for approximately sixty years. The company is engaged in HVAC, plumbing, excavation, demolition in both the commercial and residential segments of the marketplace and will use the loan proceeds for working capital purposes. The loan is secured by a blanket mortgage on multiple real estate assets that are located on the Connecticut Shoreline with an underlying LTV of approximately 75%. The borrower is a repeat customer of T-MAX Lending LLC and has maintained a business relationship with T-MAX Lending LLC principal, Jackson Valerie for approximately five years.
The borrower will repay the debt both through the general cash flow from their various businesses as well as through the sale of various real estate assets.