Butte County, CA – $366,000 – 2nd Lien
This farmer was referred to us by their bank as a historically good customer whose financial position was affected by a weather-related loss carry-forward on his crop line. He needed a transitional loan to inject capital into farm operations to meet his bank’s loan covenants. We placed a second on his farmland behind another bank’s low interest rate first, allowing him to retain a good interest rate on the first. We made this loan with an internal valuation instead of a full appraisal, saving the borrower both time and cost.