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708 Barkwood Court in Boilings Springs, SC
In 2019, a builder looking to scale his business reached out to Lima One for new construction financing. He had big dreams and needed a financing partner to help him achieve them—and Lima One has done just that.
By the Numbers:
$203K
Loan Amount
$290K
After-Repair Value
70%
Loan to Value Leverage
The Opportunity
The developer on this home had already built more than 100 homes in upstate South Carolina financed by Lima One. On this deal, he owned a lot in a fast-growing suburb and wanted to build an affordable home on a quick timeline. The $203K loan covered much of the $277K construction budget, and the builder did not pay interest on undrawn construction funds.
The Solution
Lima One’s simple, fast financing solutions and in-house construction draws allowed the builder to complete the build in just five months. The property sold for $340K, well above the appraised $290K value, resulting in big profits for the builder. The builder continues to work with Lima One on multiple ground-up construction projects per month, using Lima One as a primary source of funding for an impressive new construction enterprise.
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