Featured Commercial Loans
$750,000 construction completion church financing. (Bakersfield, CA)
The borrower, an established church in Bakersfield, CA, was about 60% through its construction project when it ran out of money. The project stalled and mechanics liens were filed. Banks wouldn’t consider financing a mid-construction project. Shepherd Capital Partners closely evaluated the project, the construction budget and contractor, and the permanent financing options upon completion. We arranged for an 18-month construction completion loan with a private investor group. The mechanics liens were cleared and the project was back on track within a month.
$2.1 million bridge loan, mixed use civic theater/office building. (San Jose, CA)
A 15,222 square foot commercial theater with 20 private offices, mostly leased on a month-to-month basis. Loan was due and lender had refused to renew. Borrower had run through cash reserves updating the property and faced numerous mortgage lates on a large real estate portfolio. Shepherd Capital Partners provided a $2.1 million loan for 2 years backed by the theater, plus an additional six properties in the portfolio, and a UCC-1 filing on the theater equipment: over $5 million of net equity for an LTV of 40%.
