All projectsNeeds Attention
Hancock · 714 Holdings LLC · Covington, LA
714 Pine Street
68%
Complete
Est. Nov 30
Projected Margin
$245K
On $1.24M sale price
Loan Terms
Hancock Whitney
Commitment$730,000
Balance drawn$459,900
Availability$270,100
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$153,900
Remaining equity needed$6,100
Loan proceeds received$459,900
Pending draw reimbursement$59,830
Next 30-day spend$80,100
Remaining Availability
Can the loan still cover the job?
Commitment$730,000
Less balance drawn($459,900)
Less next draw #6($96,500)
Availability after next draw$173,600
Cost remaining to complete$256,300
Coverage gap$0
Commitment drawn
63% drawn · $270K available
Next draw
Draw #6$96,500
Target fundingThu, Aug 27
Cash floated until funding$34,800