Hard Money Blanket Loan Closed Bakersfield, CA | $680K
By Hanover MC On June 30 2023
Hanover MC arranged a $680K hard money blanket loan in Bakersfield, CA at 56% LTV. Commercial & SFR, business purpose. Call (714) 838-1474.
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Hanover MC
Private Money & Trust Deed Lending
Closed Deal · Bakersfield, CA · Kern County
Hard Money Blanket Loan Closed in Bakersfield, CA
$680,000 first trust deed, 56% LTV, secured by a special-use commercial building and two investment SFRs, providing corporate restructuring capital.
Hanover MC arranged a $680,000 hard money blanket loan in Bakersfield, CA, cross-collateralized against one special-use commercial building and two investment SFR dwellings, closing at 56% loan-to-value in first trust deed position with a 60-month term. With capital provided by private trust deed investors, the loan gave the borrower's company restructuring capital used to change the mixture of debt and equity in its capital structure.
$680K
Loan Amount
56%
LTV As-Is
1st TD
Position
60 mo
Term
The Deal
This blanket loan, secured by one special-use commercial building and two investment SFR dwellings, provided restructuring capital for the borrower's corporate operation. The proceeds were used to change the mixture of debt and equity in the company's capital structure.
The loan closed as a first trust deed in Kern County with a 60-month term on principal and interest payments, at 56% loan-to-value against the as-is value of the combined collateral.
Loan Snapshot
- Property typeCommercial & Residential SFRs (Blanket Loan)
- PurposeRefinance — Restructuring Capital
- Loan-to-value (as-is)56%
- PositionFirst Trust Deed
- Term60 Months
- PaymentsPrincipal & Interest
- CountyKern County, CA
- Principal amount$680,000.00
About Bakersfield, CA
Bakersfield is a charter city in Kern County, California, serving as the county seat and the county's largest city, with an economy spanning a diverse mix of industries. The city is known as the home of the "Bakersfield Sound," the country music style popularized by Buck Owens, Merle Haggard, Billy Mize, and others.
Bakersfield is also home to a Frank Lloyd Wright-designed house and is recognized as one of only six stops on Yelp's "Perfect West Coast Road Trip" route from Seattle to San Diego. The city has hosted sitting and former U.S. presidents during their terms for more than 120 years, including Rutherford B. Hayes (1880), Benjamin Harrison (1891), William McKinley (1900), William Howard Taft (1909), George W. Bush (2004), and Barack Obama (2012).
Source: Wikipedia & Visit Bakersfield.
Why Investors Use Hanover MC for Blanket Loans
Single Focus
Private money lending and trust deed investing — not split across property management, HOA administration, or brokerage sales.
Multi-Asset Collateral
Comfortable structuring loans secured by mixed commercial and residential collateral under a single blanket loan.
Corporate Restructuring Capital
Experience arranging refinance loans where proceeds support a borrower's broader capital structure, not just one property.
Private Money Mortgage Company
Hanover MC arranges loans on behalf of private trust deed investors who provide the capital.
Frequently Asked Questions
What is a hard money blanket loan?
A single loan secured by more than one property at once, letting a borrower use combined equity across multiple assets as collateral rather than financing each property separately.
What properties secured this Bakersfield, CA loan?
One special-use commercial building and two investment single-family residential dwellings, all cross-collateralized under a single blanket loan.
What was the purpose of the loan?
A refinance providing restructuring capital, which the borrower's company used to change the mixture of debt and equity in its capital structure.
What is the Loan-to-Value (LTV) on this transaction?
The loan closed at 56% LTV (as-is value), in first trust deed position, with a 60-month term on principal and interest payments.
Who funded this loan?
This loan was funded through private trust deed investors, arranged by Hanover MC. Hanover MC is a private money mortgage company.
Is this loan available for personal or owner-occupied use?
This specific loan was for business and investment purposes. Hanover MC does arrange owner-occupied loans when the loan is for a business purpose. Loans for personal, family, or household (consumer) use are not offered.
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Structuring a Blanket Loan in Kern County?
Call to discuss your scenario, or apply online.
Hanover Mortgage Company arranges loans on behalf of private trust deed investors. All loans are business purpose only. No consumer loans. California real estate only. This is not an offer to lend. Loan programs, amounts, rates, and terms are subject to change without notice. Borrowers and properties must qualify. Conditions and restrictions may apply. Not all programs available in all areas. Not a commitment to lend. All transactions subject to underwriting and investor approval. 1st, 2nd, and 3rd trust deed positions available.