Entertainment Venue Refinancing
Loan Priority
1st Mortgage
Loan Amount
$1,000,000
Loan to Value (LTV)
50%
Loan Purpose
The borrower was looking for refinancing to pay off an institutional mortgage. Even though the client had not missed any payments, given COVID shutdowns the client’s debt service ratios fell outside of acceptable guidelines and the bank called in the loan.
Location
Muskoka Lakes, ON