I am a direct lender in Boca Raton, Florida. We recently closed on a commercial land cash out for $3MM. We didn't show any financial information on the borrower and essentially closed the loan with nothing but a 1003 and the appraisal. And we were able to close the loan with no prepayment penalty as well.

A local city representative has shown a high level of interest in purchasing the property from the borrower, with the intention of constructing a day care center.

I am not interested in putting this loan in my pool as it does not fit the parameters for servicing our fund.

Furthermore, I would prefer not go with a local bank.

Given standard market rates and terms in place, are there any active investors that may be interested in funding this project?

For the land acquisition, construction financing and permanent loan, I would try Lehman SBF, GE Commercial, UPS Small Business Finance, Wachovia, B of A, or Regions Bank. All lend in FLA and would consider the project.

Jonathan,

What is the total projected cost? There are more than the lenders mentioned in the previous post and everybody has its own niche.