Blowing Rock, NC

The Opportunity

An experienced development group is developing a luxury mountain community in the heart of North Carolina’s Appalachian Mountains, and it needed financing to launch the next phase of the community. They decided to try a few construction lenders to see which could provide the best combination of rates, terms, closing time, and construction draw service. One of the lenders they contacted was Lima One.

During vetting, they discovered how Lima One doesn’t charge interest on undrawn construction funds. The developer saw how much this would save on projects where the lots were fully owned, and the investment strategy was to build luxury single family homes.

The Solution

The developer started by financing nine homes with Lima One, and within four months had financed another four. As homes are completed and sold, the developer can once again draw on its preapproved exposure limit to finance more builds.

They have discovered why Lima One is the lender built for builders, with quick closings at competitive rates and terms, plus the best service before the close and during the life of the loan.