T-Max Lending closed a $10.5 million commercial loan to a developer in Charleston. This financing will support the completion of a hotel currently under construction in the heart of Charleston.
The loan was structured with a three-year term and an interest rate of 8.9%, with an underlying ratio of approximately 95%. The loan proceeds will be used exclusively for the completion of the hotel’s construction and interior fit-out.
“We are excited to play a key role in bringing this new hospitality project to life in Charleston,” Jackson Valerie, vice president at T-Max Lending, said. “With a strong loan structure and competitive terms, we’re confident this development will contribute to the city’s growing appeal as a top-tier destination for both tourists and business travelers alike.”
