Lima One Capital secures $20 Million in Funding Expands lending to North Carolina
ATLANTA, Oct. 3, 2012 /PRNewswire/ -- Lima One Capital LLC, a hard money lending company that provides loans to real estate investors, is proud to announce $20 million in funding as it expands to North Carolina. Building on a high-growth model, which aims to revolutionize and stabilize the residential real estate industry, Lima One Capital provides full-service first-mortgage loans to real estate investors seeking to purchase and renovate distressed homes.
Lima One Capital has created a niche within the hard money lending market, offering highly competitive rates, transparent terms, unmatched operational efficiency, great customer service and fast closings – completing applications and closing mortgages within an average of 7 days.
"We see the potential to create and sustain a demonstrated social and economic impact for our clients and on communities as a whole," says CEO John Warren.
Lima One Capital currently lends in South Carolina and Georgia, with Atlanta representing its largest market. The company will add North Carolina to the lending lineup next month as part of its domestic expansion.
Lima One Capital quickly became the premier Atlanta hard money lender for real estate investors, increasing mortgage volume over 1,300-percent since 2011. Residential investors using Lima One Capital to leverage funds also generated an average return on investment of over 125-percent within six-months.
"Unlike other hard money lenders," says COO John Thompson, "we provide a continuum of services that include underwriting and construction draw processes. Additionally, we introduce clients to our extensive network of real estate professionals who assist with property acquisition, construction and sales. We are a one stop shop for investors."
Lima One Capital's clients represent an ever-growing segment of investors in residential real estate. Recent market studies show that 27-percent of all homes purchased in the U.S. are by investors planning either to rent the property or "flip" the property to an owner-occupier or another investor. Because most of these investment properties require significant construction, banks hesitate to lend on such collateral, leaving a void for investors.
Warren founded the hard-money lending company in January 2010 in Atlanta, paying tribute in name to the Marines he commanded in 1st Platoon, Lima Company, 3rd Battalion, Eighth Marines. Thompson also served in Lima Company as the unit's company gunnery sergeant. For more information, visit www.limaonecapital.com.
SOURCE Lima One Capital LLC