One of our clients is in need of a land only loan:
The Pitt Family farm is a farm in North Carolina that has been operating in one form or another for over a century. It is being repurposed by the younger generation with more of the land being used to generate additional and new farm income.
The farm land is owned outright and free and clear. They are looking to get a loan for as much as possible and will use those funds to facilitate the expansion. The principal new source of revenue are green houses to grow Micro-Greens which are already pre-sold.
The Appraised Value is $225,000 as of April 15,2021
There are 7 member/owners of this LLC - None with more than 15% ownership. The Member Manager may be willing to personally guarantee this loan and provided his personal tax returns if needed.
Looking for a 50% LTV Loan or Best
Can you do this?
Thanks so much,
I await your reply!
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