All projectsNeeds Attention
Magnolia State · 892 Holdings LLC · Madisonville, LA
892 Magnolia Ave
21%
Complete
Est. Apr 2
Projected Margin
$397K
On $2.05M sale price
Loan Terms
Magnolia State Bank
Commitment$1,150,000
Balance drawn$253,000
Availability$897,000
RateSOFR + 3.00%
LTC / LTV78% / 70%
Equity requirement22% cash equity
Interest reserve12 months required
RecourseFull recourse + cross-collateral
Equity & Sources
Where the money is coming from
Builder equity planned$330,000
Builder equity invested$145,200
Remaining equity needed$184,800
Loan proceeds received$253,000
Pending draw reimbursement$88,660
Next 30-day spend$133,200
Remaining Availability
Can the loan still cover the job?
Commitment$1,150,000
Less balance drawn($253,000)
Less next draw #2($143,000)
Availability after next draw$754,000
Cost remaining to complete$1,198,800
Coverage gap$301,800
Commitment drawn
22% drawn · $897K available
Next draw
Draw #2$143,000
Target fundingFri, Sep 11
Cash floated until funding$42,000