New Construction Loan – El Dorado, Kansas

The Opportunity

An experienced builder was ready for his next duplex construction project in El Dorado, Kansas, a lakeside town about 30 miles east of Wichita. He had significant experience building both custom homes and spec homes like this duplex project. 

He was looking for a new financing partner that could support his company’s volume goals while providing a fast and easy draw process. He had talked to Lima One over the years but had never tried Lima One’s financing for himself.

The Solution

Lima One provided a construction loan to cover two duplexes on the same lot at 85% loan to cost. This let the developer immediately begin construction on the project, which had a projected as-completed value of $640,000. 

Lima One’s interest-only construction financing, with no interest charged on undrawn construction funds, gave the builder low cost of funds. Meanwhile, Lima One’s in-house draw process allowed the builder to access the construction budget with draws in as little as 24 hours. Now the builder is set up for a six-figure profit on his latest project while continuing to grow his business