General Comments:

Two partners, one who operated Ready Mix company and the other who owned a trucking company specializing in the concrete industry saw an opportunity to become a full service operation and open their own batch plant. Both the construction industry and trucking are out of favor with most funding sources but these lessee's had a solid piece of income producing real estate they were willing to offer up as collateral to structure the transaction. To complicate the transaction there was a 40 year-old lien still on the property we were able to help the lessee obtain a reconveyance and still closed the transaction while this was in process.

Industry:  Concrete Plant

Credit Score:  713 & 604

Homeowner:  Yes

Equipment:  1997 928G CAT Wheel Loader

                   1998 Mack Tractor

                   Various Concrete Batch Plant Equipment and Trailers

Amount Funded:  $140,000

Additional Collateral:  1st Deed of Trust on 4-Unit Apt. Complex