Situation:

Asset Based Lending recently closed a hard money loan for the gut renovation of a two family row house in Philadelphia, PA. The renovation will be extensive, including all new electrical, plumbing, and HVAC systems in addition to new hardwood floors throughout. The borrower is an exceptionally experienced investor, and plans to keep the property for rental income once the rehab is complete. ABL will be facilitating the long term refinance through our Renovate to Rent program.