SAN DIEGO–(BUSINESS WIRE)–Wilshire Quinn Capital announced Thursday that its private lending fund, the Wilshire Quinn Income Fund, has provided a $1,325,000 cash-out refinance loan on a single-family residence in Palo Alto, California.
The investment property is located in the St. Claire Gardens neighborhood of Palo Alto and is comprised of 1,546 square feet, on a 6,077-square-foot lot.
The subject property appraised this month for $2,400,000, giving Wilshire Quinn a total loan-to-value ratio of 55 percent on the transaction. The loan was funded in five business days after the request for capital was made.
ABOUT WILSHIRE QUINN
Wilshire Quinn is a San Diego private money lender, Los Angeles private money lender, and Orange County private money lender, and provides financing to borrowers who are unable to obtain credit from traditional lending institutions or need to close quickly on a property. Wilshire Quinn will consider lending on properties located nationwide, including Seattle, Portland, Denver, and New York.
Loans are made or arranged by Wilshire Quinn Income Fund, LLC pursuant to California Finance Lenders Law license #603J060. Wilshire Quinn Capital, Inc. serves as manager of the Wilshire Quinn Income Fund, LLC. The information above is deemed reliable but is not guaranteed. Nothing contained in the information above is an offer or solicitation for the purchase or sale of any security. Any such offer to purchase securities will be made only through the Private Placement Memorandum of Wilshire Quinn Income Fund, LLC.