Published: July 29, 2009

Metro Funding Closes a $2,000,000 Loan

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PARAMUS, N.J., July 29 /PRNewswire/ -- Metro Funding Corp. (MFC) recently closed a $2,000,000 loan for the acquisition of an income producing Shopping Mall in St. Louis, MO.

The borrower approached MFC in order to take advantage of an opportunity to acquire a multi-tenant shopping mall. The borrower was able to negotiate with the seller and was given an opportunity to purchase the property at a great discount. In order to receive this discount, however, the borrower had to place a large non-refundable deposit down on the property. In addition, he was only given 30 days to obtain financing. Ben Rutkevitz, Manager and Senior Underwriter at Metro Funding, commented, "Timing plays a major role in financing today. Many borrowers are unable to obtain financing in a short period of time from Conventional Banks. MFC, however, is able to provide financing swiftly, allowing borrowers to take advantage of rare opportunities in today's market." The borrower was able to purchase the property in time and is currently operating the Shopping Mall successfully.

Metro Funding Corp., headquartered in Paramus, NJ, is a commercial real estate lending company specializing in asset-based opportunity (hard money) loans. Metro Funding Corp. provides domestic and international loans to corporate entities.

Web site: http://www.metrofundingcorp.com

SOURCE Metro Funding Corp.