Wilshire Quinn Provides $480,000 Cash-Out Refinance Loan in Stockton, CA
SAN DIEGO--(BUSINESS WIRE)--Nov 20, 2018--Wilshire Quinn Capital, Inc. announced Tuesday that its private lending fund, the Wilshire Quinn Income Fund, has provided a $480,000 cash-out refinance loan in Stockton, California.
The multi-family property is comprised of 5,000 square feet, with 9 units, all of which are fully rented. The property was appraised this month for $1,000,000, giving the Wilshire Quinn Income Fund a total loan-to-value ratio of 48% on the transaction.
In addition to lending on multi-family properties, Wilshire Quinn provides financing on a wide array of property types including office, mixed-use, retail, industrial, and non-owner occupied SFR.
As for Wilshire Quinn’s typical borrowers, their customer base is fairly diverse; borrowers range from builders looking for rehab financing, to individuals who are looking to purchase or refinance an investment property. Wilshire Quinn, a San Diego hard money lender, a Los Angeles hard money lender, and a San Francisco hard money lender, provides financing to borrowers who are unable to obtain credit from traditional lending institutions or need to close quickly on a property.
ABOUT WILSHIRE QUINN
Wilshire Quinn is a California hard money lender, with offices in San Diego, Los Angeles, and San Francisco, and typically funds loans in 5 to 7 business days. Wilshire Quinn originates private money loans ranging from $200,000–$10,000,000 and works with commercial and residential buyers nationwide.
Loans are made or arranged by Wilshire Quinn Income Fund, LLC pursuant to California Finance Lenders Law license #603J060. Wilshire Quinn Capital, Inc. serves as manager of the Wilshire Quinn Income Fund, LLC. The information above is deemed reliable but is not guaranteed. Portions of the loan described above may be sold to third party purchasers and does not necessarily reflect the amount held in the Fund’s loan portfolio. Nothing contained in the information above is an offer or solicitation for the purchase or sale of any security. Any such offer to purchase securities will be made only through the Private Placement Memorandum of Wilshire Quinn Income Fund, LLC.
View source version on businesswire.com:https://www.businesswire.com/news/home/20181120005807/en/
CONTACT: Wilshire Quinn Capital, Inc.
Leonard Bruno, Chief Marketing Officer
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE RESIDENTIAL BUILDING & REAL ESTATE
SOURCE: Wilshire Quinn Capital, Inc.
Copyright Business Wire 2018.
PUB: 11/20/2018 06:34 PM/DISC: 11/20/2018 06:34 PM