All projectsOn Track
Riverbend · 6 Holdings LLC · Mandeville, LA
6 Live Oak Lane
87%
Complete
Est. Oct 10
Projected Margin
$322K
On $1.64M sale price
Loan Terms
Riverbend Community Bank
Commitment$940,000
Balance drawn$789,600
Availability$150,400
RateFixed 7.25%
LTC / LTV82% / 75%
Equity requirement18% cash equity
Interest reserve6 months required
RecourseFull recourse
Equity & Sources
Where the money is coming from
Builder equity planned$240,000
Builder equity invested$240,000
Remaining equity needed$0
Loan proceeds received$789,600
Pending draw reimbursement$39,060
Next 30-day spend$106,200
Remaining Availability
Can the loan still cover the job?
Commitment$940,000
Less balance drawn($789,600)
Less next draw #8($63,000)
Availability after next draw$87,400
Cost remaining to complete$165,200
Coverage gap$14,800
Commitment drawn
84% drawn · $150K available
Next draw
Draw #8$63,000
Target fundingMon, Aug 24
Cash floated until funding$18,700