All projectsAt Risk
Gulf Coast · 124 Holdings LLC · Mandeville, LA
124 Oak Street
52%
Complete
Est. Jan 18
Projected Margin
$394K
On $1.79M sale price
Loan Terms
Gulf Coast Bank & Trust
Commitment$1,050,000
Balance drawn$575,400
Availability$474,600
RatePrime + 0.50%
LTC / LTV85% / 75%
Equity requirement15% cash equity
Interest reserve12 months required
RecourseFull recourse, personal guaranty
Equity & Sources
Where the money is coming from
Builder equity planned$200,000
Builder equity invested$148,800
Remaining equity needed$51,200
Loan proceeds received$575,400
Pending draw reimbursement$114,080
Next 30-day spend$112,500
Remaining Availability
Can the loan still cover the job?
Commitment$1,050,000
Less balance drawn($575,400)
Less next draw #4($184,000)
Availability after next draw$290,600
Cost remaining to complete$632,500
Coverage gap$157,900
Commitment drawn
55% drawn · $475K available
Next draw
Draw #4$184,000
Target fundingThu, Sep 3
Cash floated until funding$71,400