Situation:

Asset Based Lending recently funded a hard money loan for a fix and flip project in Nassau County, New York. The borrower is an experienced investor purchasing a 4 bedroom, 3.5 bathroom single family home in need of $82,000 in renovations. The scope of work for renovations includes updating the kitchen and bathrooms, fixing the pool, replacing the HVAC, potentially opening up the floor plan, and other cosmetic upgrades throughout. ABL was able to fund this project at 70% LTV and 90% LTC.