SAN DIEGO--(BUSINESS WIRE)--Wilshire Quinn Capital, Inc. announced Friday that its private lending fund, the Wilshire Quinn Income Fund, has provided a $885,000 cash-out refinance loan in La Jolla, California.
The condo property is comprised of 2,094 square-feet, with 2 bedrooms and 2 baths. The property has ocean views and is located in the Village area of La Jolla.
The property was appraised this month for $1,475,000, giving the Wilshire Quinn Income Fund a total loan-to-value ratio of 60% on the transaction.
In addition to lending on condo properties, Wilshire Quinn provides financing on a wide array of property types including office, mixed-use, retail, industrial, and multi-family.
As for Wilshire Quinn’s typical borrowers, their customer base is fairly diverse; borrowers range from builders looking for rehab financing, to individuals who are looking to purchase or refinance an investment property. Wilshire Quinn, a San Diego hard money lender and Los Angeles hard money lender, provides financing to borrowers who are unable to obtain credit from traditional lending institutions or need to close quickly on a property.
ABOUT WILSHIRE QUINN
Wilshire Quinn is a California hard money lender, with offices in San Diego, Los Angeles and San Francisco, and typically funds loans in 5 to 7 business days. Wilshire Quinn originates private money loans ranging from $200,000–$10,000,000 and works with commercial and residential buyers nationwide.
Loans are made or arranged by Wilshire Quinn Income Fund, LLC pursuant to California Finance Lenders Law license #603J060. Wilshire Quinn Capital, Inc. serves as manager of the Wilshire Quinn Income Fund, LLC. The information above is deemed reliable but is not guaranteed. Portions of the loan described above may be sold to third party purchasers and does not necessarily reflect the amount held in the Fund's loan portfolio. Nothing contained in the information above is an offer or solicitation for the purchase or sale of any security. Any such offer to purchase securities will be made only through the Private Placement Memorandum of Wilshire Quinn Income Fund, LLC.