South River, NJ – Kathy Anderson, Founding Partner of Progress Capital secured a $930,000 bridge loan for a 58,000 SF building currently occupied by Pillars Prep Academy. The loan proceeds will be used to complete renovations and acquire furnishings for a dormitory at the school. Kathy negotiated a loan term of fifteen (15) months with a fixed annual rate of twelve (12%) percent interest-only.
Progress Capital is a leading Commercial Mortgage Banking firm specializing in arranging debt for commercial real estate owners and developers. Since 1990, Progress has successfully closed in excess of $40 Billion in commercial loans and deployed over $150 Million through their direct lending platform.
We Get You to the Closing Table- Plain and Simple-#thatsPROGRESS