$2,000,000 First Mortgage Loan for Non-profit Foundation's Commercial Townhouse | Term: 1 year
After being victim of embezzlement by a past officer, a world-esteemed non-profit foundation was provided with a $2,000,000 first mortgage loan for working capital, collateralized by a commercial townhouse in Greenwich Village. It serves as office space and the location of over 300 dinners and events each year sponsored by the foundation. With cash flow normalized, the foundation plans to refinance the property with conventional bank financing.
After being victim of embezzlement by a past officer, a world-esteemed non-profit foundation was provided with a $2,000,000 first mortgage loan for working capital, collateralized by a commercial townhouse in Greenwich Village. It serves as office space and the location of over 300 dinners and events each year sponsored by the foundation. With cash flow normalized, the foundation plans to refinance the property with conventional bank financing.
