BORROWERS

FIRST ISLAND is a service oriented lender with funds available for all types of interim real estate loans.   After assessing your needs, our terms and conditions are designed to facilitate quick and efficient funding and draw schedules. Over the years, First Island has funded hundreds of projects in all property classes fulfilling a much needed role for both builders and investors.

Construction:    

Interim:
•  Renovations on multi-family and commercial projects
•  Lease restructuring on commercial projects
•  Purchase &/or re-sales of existing real estate projects
•  Multi-family "inventory" loans
•  Land acquisition

Term:
•  3 months to 2 years ( usual term is between eighteen to twenty-four months)

Loan Amounts:
•  up to $10,000,000 (Canadian funds)

Loan Ratios:
•  up to 75% of value

Interest Rate:
•  from Prime + 4%
Prime = Canadian Chartered Bank Prime Lending Rate

For more information contact P.D. (Phil) Wooster at pwooster@firstisland.com