All projectsOn Track
Hancock · 931 Holdings LLC · Covington, LA
931 Pine Hollow
74%
Complete
Est. Nov 6
Projected Margin
$258K
On $1.33M sale price
Loan Terms
Hancock Whitney
Commitment$780,000
Balance drawn$553,800
Availability$226,200
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$180,000
Builder equity invested$180,000
Remaining equity needed$0
Loan proceeds received$553,800
Pending draw reimbursement$81,840
Next 30-day spend$86,400
Remaining Availability
Can the loan still cover the job?
Commitment$780,000
Less balance drawn($553,800)
Less next draw #7($132,000)
Availability after next draw$94,200
Cost remaining to complete$235,200
Coverage gap$9,000
Commitment drawn
71% drawn · $226K available
Next draw
Draw #7$132,000
Target fundingTue, Aug 25
Cash floated until funding$48,200