Lake Oswego, OR

The Opportunity

An experienced builder in the Pacific Northwest needed financing for a new build in the Portland suburb of Lake Oswego, Oregon. The initial financing that the borrower had fell out, leaving the builder just 31⁄2 weeks left on their contract to purchase the land.

If they couldn’t find a lender to close the deal before that time expired, the builder would lose significant earnest money. So, they looked for another lender who could save the deal while offering strong leverage.

The Solution

The builder decided to do their first loan with Lima One. Lima One was able to facilitate two appraisals on a tight timeline and close the loan before the land purchase contract expired. Plus, the builder got 82.5% loan to cost and 65% loan to value leverage, providing the cash needed to keep the deal running.

The builder was impressed by Lima One’s team and process and has continued to do more business with us because of the outstanding customer service.