Portland Loan Request 100% funded in 24 hours
Proplend is pleased to announce that it’s latest commercial Loan Request was fully subscribed and completed in just 24 hours of it being posted on its P2P Lending Platform. This clearly demonstrates the demand from investors to lend on well let, income producing commercial property.
The £310,000 facility was made available to an experienced commercial developer’s pension scheme for a term of 3 years. The loan is supported by a 1st charge on 4 newly completed light industrial units which benefit from a 7 year lease to a local tenant. The borrower was attracted by the competitive pricing combined with the 3 year interest only term.
Although in this case the gearing was relatively modest at 46%, Proplend is able to facilitate loans up to 75% LTV on an interest only basis.
Proplend have a pipeline of Loan Requests and interested Lenders are invited to register at www.proplend.com for further details.