Sanibel, FL

The Opportunity

A veteran flipper found a 3-bedroom, 2-bathroom Sanibel Island home damaged by Hurricane Ian in 2022. He wanted to flip the property to bring it back onto the market, and looked for a lender partner with flexible loan offerings and dependable processes. He chose Lima One because we were easy to work with.

The Solution

Lima One helped the borrower when their preferred insurance company was unwilling to bind a policy at the last minute because of the widespread damage caused by the hurricane in the area. Lima One recommended another insurance company we work with often, solving the obstacle and getting the loan to the closing table.

As a result, the borrower closed a $630K loan with no interest on undrawn construction funds, with a 13-month term to complete the flip just two blocks from the beach and help the Sanibel community rebound from the devastation of Hurricane Ian.