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PALM DESERT, CALIF. – Money360 has closed a $3.1 million loan for a commercial property in Palm Desert. The two-year loan was funded by institutional and accredited investors. It financed the existing debt on a multi-tenant commercial office building. The funds also provided the borrower the cash that will be used for other capital needs. The loan was secured by a first trust deed. The borrower also personally guaranteed the loan. Money360 is the first peer-to-peer lending platform for real estate loans, matching worthy commercial real estate borrowers with institutional and accredited private investors.