Recently we were approached by an established San Francisco business owner who was looking for a $3,000,000 2nd position private money loan which would provide him with sufficient operating capital to help him manage and grow his various businesses. To make it work, he offered as security one of his commercial properties - a 55,000 square foot building in a prime central San Francisco location. The existing debt on the building was a conventional $7M 1st loan - but because a lucrative triple net lease had been recently executed with a national tenant, this led to a favorably high appraisal value and a swift loan approval by us based on a 50% or less LTV,