[Cfairbank]

We don't like this space particularly, but as long as guarantor is strong and it's a state we structure as a LOAN (around 40 states now), we've gone as low as 1.09 buy rate in the construction space. That was taking a fraction of deposits and very strong dailies, 700+ credit, and much longer TIB.

Here, in addition to normal stips, we would need to understand what he was doing before this company (did he have a failed remodeling company? TIB is definitely a concern, especially in this space, so we'd need to understand that). If this guy has any form of contracts in place for on-going work, six months 1.16 COF for 150K would be no issue. Contact Steve Safirstein ssafirstein@breakoutfinance.com if you'd like us to look.

And I agree with 305Shark, Kalamata would also be good option.