­­Asset Based Lending recently funded a cash out and new construction loan for a repeat borrower and experienced investor. This new construction project involves building a side-by-side, single-story duplex on a parcel of land the borrower already purchased. The borrower is using the cash out to repay the original loan they used to purchase the land and ABL is financing 83% of the loan to cost as well as 100% of the construction budget. Each duplex will have 3 bedrooms and 3 bathrooms. The kitchens will be finished with quartz countertops and stainless-steel appliances. A standup shower will be installed in the ensuite bathroom while the secondary bathrooms will have tubs. Construction for this duplex is expected to last up to 12 months and the borrower plans to list these properties for final sale.