Allstar Escrow Company
Making Latina Dreams Reality
LDC Finances Expansion of Local Escrow
Business Description: Allstar Escrow Company is a firm which provides
escrow services to various real estate companies and single family
mortgage lenders. The owners are sisters that have been in business
12 years and their gross sales have grown over 30% per year over
the last three years.
Project Description: The project consists of
the acquisition of mixed use two story office/residential building
which is located in a commercial corridor in the City of Montobello.
Allstar Escrow plans to relocate their escrow company to the second
floor and retain the ground floor tenants and generate rental income
by retaining two businesses (existing tenants). The building offers
Allstar Escrow the ability expand in the future if necessary.
Project Address: 3331-3333 W. Beverly Blvd.,
.Montebello, CA 90640
Project Amount: $425,000
Credit Request: $370,800
Purpose: Loan proceeds will be used to provide
the permanent financing of a 2 story, 1,995 sq. ft. office building
with parking for 7 vehicles.
Interest Rate: Rate will be fixed at 10 Year
Treasury Note plus 3.875%.
Repayment: This loan will be fully amortized
over 15 years.
Collateral: 1st and /or 2nd trust deed on commercial
property located in Montebello, CA. Our loan to value is not to
exceed 90% of appraised value.
Census Tract: #5302.02 - Poverty %: 10.85% -
Minority %: 90.49%
Closing Date: December 2004