$3,100,000 CONSTRUCTION LOAN IN GOODYEAR, ARIZ. IS 15TH NEW LOAN FOR REPEAT BORROWER
Freedom Financial Funds, LLC, through its subsidiary Freedom REIT, recently closed its 15th loan with a Phoenix-based developer. The $3,100,000 loan provides 90% of cost financing to construct two quick-service restaurants in Goodyear, Arizona.
Because of the excellent track record of the developer, the well-located real estate and highly profitable business plan, Freedom was able to structure 90% financing at a rate of 7.99%. Although the rate is higher than the borrower could obtain at a bank, providing 90% of the capital required to complete the project allowed the borrower to control 100% of the project without an equity partner. Thus, upon completion and sale, the developer will net higher earnings than he would have via a traditional bank and joint-venture partner financing arrangement.
The developer continues to choose Freedom as his first source for capital because he can count on excellent service before and after each loan is closed. Rather than dealing with issues surrounding his capital needs, he has more time to find new and profitable opportunities.
Freedom Financial Funds provides capital for construction, rehabilitation, repositioning, conversion or additions to commercial and residential properties throughout the Western and Southwestern U.S. from its locations in California, Arizona, Oregon and Texas. Freedom also offers build-to-suit financing nationally.