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In receipt financing, the money goes straight to the bank and I draw down on the line of credit," adds Boyer, "so it's a minimal risk for everybody.
A line of credit offers another advantage: Unlike term loans, which require repayment of both interest and principal, borrowers pay interest charges only.
Among homeowners with a traditional home equity loan, only 16 percent considered obtaining a line of credit instead.
Just over a third (34%) believe, again incorrectly, that a term loan and a line of credit are pretty much the same, and nearly four in ten (38%) believe it's a good idea to apply to as many lenders as possible when seeking a loan.
Other loans arranged by Gartenstein included an $8 million line of credit plus an additional $5 million line of credit for Castle Village, a 586-unit co-op located at 120 Cabrini Boulevard in Manhattan; a $3.
With this commercial line of credit, we expect to have greater financial flexibility in managing our cash balances to support our business objectives, including the continued growth of the ZEGERID(R) brand," said Debra P.
Mindy Goldstein, NCB's senior vice president, arranged nearly $30 million in loans during September, including a $9 million first mortgage and a $3 million line of credit for a 149-unit co-op located at 136 East 56th Street in Manhattan.
We are pleased to announce the receipt of a line of credit for the development of our film slate and for the acquisition of a high definition production camera by our entertainment business unit, Global 1 Entertainment Group.
5 million first mortgage and a $500,000 line of credit for a 118-unit co-op located at 372 Fifth Avenue in Manhattan.
This line of credit combined with our cash flow from operations enables us to move forward with our growth plans and enhance shareholder value," added Libutti.
Among other deals, NCB's senior vice president Sheldon Gartenstein originated a $2 million first mortgage and a $200,000 line of credit for a 19-unit condop located at 140 Fifth Avenue in Manhattan; a $1.
Lifeline Line of Credit - The bank is making its AmSouth Lifeline Line of Credit (LOC), a $10,000 unsecured line of credit, available to qualified customers severely impacted by the tornadoes.
6 million first mortgage and a $500,000 line of credit for a 107-unit co-op located at 3103 Fairfield Avenue in Riverdale, NY; a $2.
for a revolving line of credit of up to $4 million, which will supplement the existing line of credit provided by Silicon Valley Bank.
5 million first mortgage and a $1 million line of credit for a 144-unit co-op located at 30 East 9th Street in Manhattan was the largest loan underwritten during the month.