Phoenix, Arizona Jul 5, 2022 (Issuewire.com) - iTrade Investments LLC closed a $14.8 million loan to a well-known regional home builder to help fund land acquisition and construction of a new residential community. The borrower, which has a track record of success with multifamily housing, will build three-story units of one, two, or three bedrooms with attached garages. Funding will enable the company to buy the property and produce construction plans and drawings. The borrower assembled the project site from 2013 to 2018, and demolition of existing structures on the properties is set to begin shortly. Condo buyers have the option to lease their units for short-term rentals.
“We are excited about our continued relationship with Vincent Michael and look forward to closing our current pipeline of over $95 million with them over the next 36 months,” said Dale.
For many small and medium-sized businesses in the U.S., securing a loan involves manual processes that can be time-consuming. Often, they are limited to banks near their own location. Additionally, local and community banks have limited access to digital tools to reach potential borrowers, which can make it difficult to broaden their customer base.
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iTrade Investments LLC info@iTradeinvestments-llc.com 480 331 5522 http://www.iTradeinvestments-llc.com
