Anatomy of an Actium Loan: Moab, Utah Condominium

Providing financing for a multi-family development in Moab, Utah

The other loan was secured by a condominium in Moab, Utah. This property lies within one of the last developments built allowing for nightly rentals. When the borrower’s original financing could not be completed before the closing date, we lent 75% of the purchase price. The interest rate was 12% for this 90-day loan, which was repaid before maturity. It paid a 1.5% origination fee, and due to its quick repayment, the annualized return on this loan was 20%.