Deal Details
Private Loan Type
Residential Fix and Flip
Approx. Funding Date
07/18/2025
Property Type
Property City
St. Louis
Property State
MO
Loan Term (months)
9
Lien Type
1st Trust Deed
Payment Type
Interest Only
Purchase Price
$190,000
Borrower's Contribution to Purchase
70%
Source of Borrower's Contribution
Equity in Another Property
Renovation Budget
$166,900
Renovation Budget Funded
100%
After-Repair Value
$504,000
Loan-to-After-Repair Value
60%
Renovation Project Scope
Heavy Rehab
Location Type
Urban
Property Condition
Fair
Occupancy at Closing
Vacant
Borrower's Plan
Rehab and Rent
Exit Strategy
Refinance
Borrower Credit Rating
Good
Interest Rate
12.5%
Origination Points
3%
Deal Summary
Minnow Loan, a local Missouri direct private lender, funded a $299,900 loan for a small multifamily property in St. Louis, MO. We funded 100% of the $166,900 renovation budget and 70% of the $190,000 purchase price, while the Borrower contributed 30% using equity in another property. The after-repair value was estimated at $504,000, so our loan-to-ARV was 60%. This deal was for a repeat Borrower for whom we had previously funded two large construction projects, both executed with excellence. His properties are completed with high-quality finishes and sell quickly at top dollar. For this transaction, we allowed the Borrower to use equity from one of his nearly completed projects as collateral for the new loan. The existing rehab was about 95% complete, and there was sufficient equity to cover the down payment on this new project. The first project is scheduled to be paid off within a week. The Borrower has been outstanding to work with, and we look forward to a long-term relationship. The Borrower had good credit. They plan to refinance into a DSCR loan as an exit strategy. The interest rate was 12.5%, and we charged 3% origination points. The loan term was set at 9 months. This hard money loan was funded in July 2025.
Funded By
Minnow Loan
Your Deal. Our Money.
Dealmakers
Shelby Reed
Co-Founder