All projectsOn Track
Gulf Coast · 19 Holdings LLC · Hammond, LA
19 Chestnut Row
96%
Complete
Est. Sep 12
Projected Margin
$138K
On $795K sale price
Loan Terms
Gulf Coast Bank & Trust
Commitment$470,000
Balance drawn$437,100
Availability$32,900
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$120,000
Builder equity invested$120,000
Remaining equity needed$0
Loan proceeds received$437,100
Pending draw reimbursement$14,880
Next 30-day spend$21,200
Remaining Availability
Can the loan still cover the job?
Commitment$470,000
Less balance drawn($437,100)
Less next draw #10($24,000)
Availability after next draw$8,900
Cost remaining to complete$26,500
Coverage gap$0
Commitment drawn
93% drawn · $33K available
Next draw
Draw #10$24,000
Target fundingThu, Aug 20
Cash floated until funding$8,400