T-MAX Lending LLC Provides loan for start-up in Mansfield, Pennsylvania.
Apr 28, 2023
April 28, 2023
T-MAX Lending LLC is pleased to announce that it just successfully closed a $1,750,000 commercial loan to a start up business in Mansfield, Pennsylvania. The loan proceeds will be used by the borrower for working capital purposes for the new small business and the loan was funded by one of T-MAX Lending LLC private investors. The loan is secured by a first mortgage on real property in Mansfield, Pennsylvania with an underlying LTV of approximately 85%.
In order to satisfy T-MAX Lending LLC exit strategy, the borrower is actively selling the property in Mansfield, Pennsylvania and will pay off T-MAX Lending LLC short term bridge loan in full upon the sale of the property. T-MAX Lending LLC approved this loan request on the same day that it received the request and proceeded very quickly to fund this new small business loan.