................................LOAN REQUEST..............................................................
PROJECT: PRO SOCCER STADIUM / CONSTRUCTION LOAN / PHASE 1 IS $37 MILLION & PHASE 2 IS $10 MILLION
LOCATION: OF PROPERTY: NEVADA
TYPE OF LOAN: CONSTRUCTION-TO-PERM. / INVESTMENT PROPERTY
LOAN AMOUNT REQUEST: $47,000,000.00TYPE OF PROPERTY USE: SOCCER GAMES AND SPECIAL USE
PURCHASE PRICE FOR LAND: $4,000,000.00 / PURCHASED IN 2023.BALANCE OWE ON THE LAND: $2,300,000.00
CURRENT FAIR MARKET VALUE OF LAND: $20,000,000.00CASH OUT REFINANCE ON THE LAND AT 80% LTV = $16,000,000.00
DOWN PAYMENT OF 20% IS $47,000,000.00 X 20%= $9,400,000.00
BALANCE OWE ON THE LAND: $2,300,000.00
DOWN PAYMENT AND LAND BALANCE IS:$11,700,000.00
CASH TO THE BORROWER IS: $4,300,000.00
LESS CLOSING COST:?
BALANCE OF LOAN AMOUNT IS: $37,600,000.00
COST BREAKDOWN:
FAIR MARKET VALUE OF LAND COST: $20,000,000.00HEAD COUNT COST FOR SEATS FILLED ANNUALLY: $35,277,015.00
SOFT COST: $2,261,351.00
CONTINGENCY: $2,642,026.00
NOTE RATE IS: AVAILABLE MARKET RATE AT THAT TIME.?
TERM: 25 - 30 YEARS, FIXED.
.......................PROJECTED OPERATING STATEMENT ANNUALLY.......................
GROSS TICKET REVENUE ANNUALLY: $35,277,015.00
OTHER INCOME FOOD,ALCOHOL, MERCH: $9,004,827.00
TOTAL INCOME: $44,281,842.00
LESS 5% RESERVED VACANCY SEATS: $450,241.00
EFFECTIVE GROSS INCOME: $44,732,083.00
BORROWER: Mr. Marc
OCCUPATION: CEO, Integrated Concepts
ANNUAL INCOME: $350,000.00
NET WORTH: More than $10,000,000.00
CREDIT SCORE: 750
EXPENSES: (ANNUAL)
REAL ESTATE TAXES: $0
INSURANCE: $0
MANAGEMENT: $0
REPAIRS AND MAINTENANCE: $0RESERVES OF REPLACEMENT: $0
UTILITIES: $0
OTHER OPERATING EXPENSES: $0
TOTAL EXPENSES: $0
ACC= $200,000,000.00
NET OPERATING EXPENSES $17,559,413.00
1) Liquidity: $20 million ( DEBT DIVIDED BY LAND VALUE )2) Fico: Above 7003) He has $100,000.00 dollars in the bank, Liquid.4) He is current on his land payments, the land is worth $20 million and the balance on the land is $2 million, we can refinance the land for the construction down payment and put the construction loan on top of the refinance or structure it so that it works for you?
Capers McCants, Jr.
THE McCANTS WORLD TRADING GROUP, LLC.
5070 CLIFTON AVENUE
BALTIMORE, MD. 2Thanks1207
Office: (410) 907-6211
eFax : (813) 762-9516
Email : cmcants320@gmail.com
BUSINESS # W26668418
FEDERAL EIN # 46-5496934
