Freedom Financial Funds, LLCFreedom Financial Funds, LLC

Freedom Financial Funds Approves 15th Loan for Client

November 11, 2022

A financially strong and experienced apartment developer came to Freedom Financial Funds, LLC for a construction completion loan. He was seeking an alternative because his relationship bank’s protracted draw-funding process was prolonging his construction timeline.

Construction loan

$4.86M

Apartments, North Hollywood, CA

Loan amount
$4,860,000
Purpose
Complete an eight-unit, family-oriented apartment project in the NoHo section
Leverage
65% loan to value
Recourse
Recourse loan
Draws
Funded in five days or less

While Freedom’s stated interest rate is higher than the bank’s, the client calculated that by getting his funding in five days or less – a written promise made by Freedom in all construction loans – the actual cost of interest will be nearly the same. Further, the client’s staff will be able to focus on other activities, since funding will no longer be a concern. Freedom’s loan of $4,860,000 will fund the completion of an eight-unit, family-oriented apartment project in the popular NoHo section of North Hollywood, California. The recourse loan was made at 65% Loan to Value.

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26565 Agoura Road, Suite 200, Calabasas, CA 91302