A lending company with short-term and long-term financing programs for residential real estate investors is now serving Fresno and other California cities.
Lima One Capital, based in Greenville, South Carolina, launched in Fresno over the summer and plans to open a local office in the first quarter of 2017, said chief executive officer and founder John Warren.
The company finances flippers and landlords. With the new banking regulations, traditional lenders have gotten out of lending to owners of unoccupied properties, Warren said. “There was a gap for a company to come in and provide financing on all types of properties to real estate investors. That’s the void we fill,” he said.
Warren started the company six years ago after he was deployed to Iraq while serving with the U.S. Marine Corps.
Sign Up and Save
Get six months of free digital access to The Fresno Bee
“When we came out, we were looking for opportunity,” Warren said. “The real estate world was where we wanted to be.”
Lima One Capital was attracted to Fresno because of its stable housing market, which includes opportunity to buy, high cash flow for landlords and a strong rental market. Its loans include a FixNFlip for the real estate investor looking to purchase and rehab an investment property and Rental30 for the purchase or refinance of single properties and portfolios.
The company has more than 65 employees and eight offices in 43 states. For information, visit limaonecapital.com.
Lima One Capital