Situation:

Asset Based Lending recently funded a hard money blanket loan for the purchase and rehab of two properties in Paterson, NJ. The loan involves the purchase of a two-family property in need of minor rehab, in addition to a mixed-use property being converted into a three-family. The borrower is an experienced investor and repeat ABL borrower who plans on utilizing ABL’s renovate to rent program in order to keep the finished properties for rental income.