All projectsOn Track
Hancock · 330 Holdings LLC · Covington, LA
330 Fairview Dr
57%
Complete
Est. Dec 28
Projected Margin
$190K
On $1.06M sale price
Loan Terms
Hancock Whitney
Commitment$620,000
Balance drawn$328,600
Availability$291,400
RateSOFR + 2.75%
LTC / LTV80% / 70%
Equity requirement20% cash equity
Interest reserve9 months required
RecourseFull recourse, burns to 50% at C/O
Equity & Sources
Where the money is coming from
Builder equity planned$160,000
Builder equity invested$128,000
Remaining equity needed$32,000
Loan proceeds received$328,600
Pending draw reimbursement$50,220
Next 30-day spend$70,200
Remaining Availability
Can the loan still cover the job?
Commitment$620,000
Less balance drawn($328,600)
Less next draw #4($81,000)
Availability after next draw$210,400
Cost remaining to complete$351,000
Coverage gap$59,600
Commitment drawn
53% drawn · $291K available
Next draw
Draw #4$81,000
Target fundingTue, Sep 1
Cash floated until funding$27,600