596 Blue Shell Loop
Premium Merchant Funding Secures $3.3M Construction Loan for Luxury Spec Home in Sarasota, FL
Premium Merchant Funding (PMF) successfully facilitated a $3.3 million construction loan for a
real estate developer in Sarasota, Florida, enabling the completion of a $5 million luxury spec
home project. PMF initially reached out to the developer to offer a Merchant Cash Advance
(MCA) loan but quickly identified the need for a more cost-effective solution to fund the next
project. Recognizing the opportunity, PMF successfully cross-sold a tailored real estate
construction loan with 80% Loan-to-Cost (LTC), requiring minimal equity investment from the
client.
The deal was closed in just two weeks, allowing the developer to efficiently proceed with the project. Upon completion, the luxury home sold for over $5 million, yielding a profit of more than $2 million. This success underscored PMF’s expertise in structuring creative financing solutions and strengthened the developer’s trust in their ability to deliver impactful results.
Summary of transaction details:
● Property Type: Single Family Home
● Location: 596 Blue Shell Loop, Sarasota, FL
● Loan Amount: $3,313,600
● Construction Type: Ground-up construction
● Loan Term: 15 months
● Interest Rate: 10.25%
● Loan-to-Cost (LTC): 80%
● Lender: Dunmor