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Latest C-Loans Closing - $420,000

SHELBYVILLE, KENTUCKY 40065

$420,000 COMMERCIAL CLOSING

A closing announcement like this is called a tombstone, and the purpose of any tombstone is to give mortgage brokers an example of the types of deals that a particular lender makes. The message we want to convey today is that Blackburne & Sons, a private-money lender listed on C-Loans.com, is still very active in the market today and will even make new loans in the boonies!

Both C-Loans and Blackburne & Sons are pleased to report this new $420,000 closing! For this loan, a 6-month payment reserve has been held back from the loan proceeds to assist the borrower with payments given the anticipated impact from the COVID-19 virus. Payments will be applied from this reserve each month, and once the 6-month reserve is exhausted, the borrower will be required to begin making monthly payments himself.

Blackburne & Sons is a hard money commercial lending company that surprisingly makes permanent loans, rather than bridge loans. Because we make 15 year loans, amortized over 30 years, our APR is much lower than the competition. Of course, there is no prepayment penalty, so our loans make great bridge loans too.

For more information on this closing or if you have a deal that might need private-money, please call George Blackburne IV at 916-338-3232 ext. 314 or email him at  georgeiv@blackburne.com.