Closed: $250,000 Cash Out Refinance for Fort Myers Beach Retail Condo
$250,000 Cash Out Refinance for Fort Myers Beach Retail Condo
Gelt Financial closed a $250,000 cash-out refinance on a retail condominium in Fort Myers Beach, Florida. The 613-square-foot unit is leased to an operating coffee shop and was owned free and clear before closing.
We structured the loan at a conservative 45% loan-to-value, leaving the borrower with a $308,609 equity cushion. That kind of margin gives both the borrower and Gelt Financial room to breathe, and it's exactly the type of deal we like to fund.
This was a 12-month, interest-only loan built around asset-based underwriting. We didn't require an appraisal, a minimum credit score, or income qualification. We focused on the property's equity and the borrower's exit strategy: selling the property and the business.
Deals like this show what a family-owned, asset-based lender can do when a bank says no. We keep our process honest, with no hidden fees and no unnecessary red tape slowing down a closing. Need fast, flexible financing for a deal? Apply now at GeltFinancial.com or call us at 561-221-0900 today! Gelt Financial is ready to discuss your commercial or investment real estate financing needs.
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