Goat Farm

• Loan $350,000
• LTV 17%
• Chelsea, MI
• Fico 513

Waiting for a low-interest loan can be incredibly expensive. When Roger and Marcia came to us, they were already 6 months into an SBA process, with another 6 to go. They learned the hard way that institutional loans, especially government backed, can be excruciatingly slow. And they were losing more money than they were saving by waiting for their lower interest SBA. We gave their goat farm a 12-month interest-only bridge loan which they’ll payoff as soon as their SBA loan finally funds (fingers crossed). Now they can expand their farm and keep moving until the SBA gets its act together.