SAN DIEGO (December 12, 2018) – Wilshire Quinn Capital, Inc. announced Wednesday that its private lending fund, the Wilshire Quinn Income Fund, has provided a $400,000 cash-out refinance loan in Oakland, California.
The multi-family property is a duplex comprised of 2,540 square feet, with six bedrooms and two bathrooms. The property was appraised for $800,000, giving the Wilshire Quinn Income Fund a total loan-to-value of 50% on the transaction.
In addition to lending on multi-family properties, Wilshire Quinn provides financing on a wide array of property types including office, mixed-use, retail, industrial, and non-owner occupied SFR.
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 is a San Diego hard money lender, Los Angeles hard money lender, and San Francisco hard money lender, and 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 bridge 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.