The BIDCO Closes on Renewal in Mt. Pleasant, Michigan
Commercial Capital BIDCO recently closed on a renewal for a current client located in Mt. Pleasant, Michigan. This client owns a commercial real estate structure that is currently being remodeled for a fast food restaurant in the downtown area. The original loan was closed in 2023 and the renewal of $1,040,000 was recently completed in order for the client to complete renovations. For this deal, our team was able to use a 7-month interest reserve so that the borrower could have additional cashflow during the remodel process. We enjoyed getting creative for this renewal and helping our client in the later stages of this commercial property renovation and look forward to their future success!
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