I have a client with the following particulars. All documentation can be provided.

He is looking to get a loan for $1.5 million loan on a 1,300 acre property in CA.

The property is appraised at $3.3 million. Appraisal is available

He has two sources of income:

1. He has a wood chip operation generated gross annual revenues of $294,000 in 2014, per his 2014 tax return. Net income from this operation was $179,730 in 2014.

2. He leases his land (including two houses) to a cattle rancher for grazing. Gross revenue of $90,000 a year ($7,500 per month). Net income of $73,491 per 2014 return. He has had the same tenant for five years.

Three years of tax returns are available along with a letter of good standing on the existing $470,000 loan on the property. Also available is a personal financial statement and a six-month (Jan-June) P&L on the wood chip business. For the first six months of 2015, gross income was $219,232, net income $127,310 -- well ahead of 2014, He sells the wood chips in bags to Krugers and Walmart.

The loan required is $1.5 million, which will take out the existing loan and put the new lender in first place. The asset is solid. The income is verified. He has a personal credit score of 672.

Howie Dane
Funding Sources for Business
(866) 573-3273

president@fundingsourcesforbusiness.com