All projectsOn Track
Gulf Coast · 55 Holdings LLC · Mandeville, LA
55 Heron Point
44%
Complete
Est. Feb 12
Projected Margin
$309K
On $1.50M sale price
Loan Terms
Gulf Coast Bank & Trust
Commitment$860,000
Balance drawn$378,400
Availability$481,600
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$132,000
Remaining equity needed$68,000
Loan proceeds received$378,400
Pending draw reimbursement$75,020
Next 30-day spend$95,400
Remaining Availability
Can the loan still cover the job?
Commitment$860,000
Less balance drawn($378,400)
Less next draw #3($121,000)
Availability after next draw$360,600
Cost remaining to complete$625,400
Coverage gap$143,800
Commitment drawn
44% drawn · $482K available
Next draw
Draw #3$121,000
Target fundingFri, Sep 4
Cash floated until funding$38,900