Created Outside-the-Box Lending Solution for Asset-Based Lender
Lender was asked to make a loan to remediate an environmentally contaminated site to enable the owner to sell the land to a developer who refused to purchase until the land had been cleaned. On behalf of the lender, strategized a loan, secured by the owner’s neighboring land which fully secured the loan to be made for the remediation. The loan funded the removal of the contamination, allowing the sale to go forward. The developer proceeded with the project and today, a multi-purpose community stands with residential, commercial and entertainment tenants connected by a bridge over the interstate.