• Loan Amount * $1,000,000
• Rate *9.50%
• Appraised Value * $2,000,000
• Term * 12 months, IO
• Lien Position * First

Our Borrowers were in contract to purchase ~400 acres of timberland. They were approved for financing from a local bank but were advised it would be difficult for the bank to meet their short timeframe to close. There was a harvest plan in place and the logging was to start within a month of closing. We were able to make a 50% LTV loan and will be paid off from logging proceeds.