SAN DIEGO, May 02, 2019 (GLOBE NEWSWIRE) -- Wilshire Quinn Capital, Inc. announced Thursday that its private lending fund, the Wilshire Quinn Income Fund, has provided an $810,000 cash-out refinance loan on a multi-family property in Jersey City, New Jersey.
The duplex is comprised of 2,498 square-feet and is located in the Journal Square neighborhood of Jersey City. The property recently appraised for $1,350,000, giving the Wilshire Quinn Income Fund a total loan-to-value ratio of 60 percent on the transaction.
Wilshire Quinn typically funds loans in 5 to 7 business days and originates bridge loans ranging from $200,000-$10,000,000. Wilshire Quinn works directly with real estate owners and mortgage professionals nationwide.
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, a California hard money lender, 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 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. Wilshire Quinn will consider lending on properties located nationwide including Seattle, Portland, and New York.
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.