Southeast Bridge Capital was approached to provide financing for a substantial addition and renovation to a single-family residential property in a stable, in-fill location within the Charlotte market. The Sponsor, who had solid income and a strong financial statement, already owned the property, but given the scope of work, was unable to obtain bank financing until after completion.

Southeast Bridge was able to provide 91% LTC (78% LTV) for the project given: ​

1. Well known GC (has completed over 20 construction jobs with Southeast Bridge Capital)​
2. Minimal execution risk (scope of work is extensive but fairly straightforward). ​
3. Borrower/Sponsor financial strength (ability to cover any cost overruns)​
4. Location (excellent in-fill location and an increasingly strong Charlotte SFR market)

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Upon completion, Borrower will either 1) take occupancy and refinance the property (pre-approved up to $1MM from conventional lender) or 2) market the property for resale. $990,000 appraised value provides approx. $225K over cost-basis (78% LTV).​