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Updated about 11 years ago,
Guarantor On Non-Recourse Loan?
We are looking at taking a 70% LTV loan. Total loan amount is around $3,400,000. Regarding the equity portion, we already have investors who are committing their money. The loan is non-recourse, but the issue is that since we are the sponsor, we are required to still show personal financials. What is typically considered a good guarantor on a loan this size? My net worth is less than $150k, but credit rating is fairly good. Any former bankers here or anyone that has dealt with non-recourse loans?