Mortgage lead for Land loan in Edgewood, WA, 98372

Date Posted

5/25/2026 7:14:27 AM

Property at

Edgewood, WA, 98372, USA Show Map

Borrower at

Property Type

Land

Property Value

$300,000

Loan Request

$100,000

LTV

33.33 %

Credit Rating

580-599

Net Worth

$250,000 - $500,000

Loan Purpose

Refinance and Construction

Purpose

Seeking $98,275 business-purpose loan secured by a free-and-clear 1.22-acre parcel in Edgewood, WA (Pierce County, Parcel #0420027018), currently valued at $325,000. Loan-to-value: 30.2%. Proceeds will fund startup of Edgewood Milton Rental Company, LLC — a home-based mini excavator and skid steer rental operation serving Pierce and King counties from the collateral property itself. Use of funds includes equipment acquisition, attachments, a dump trailer, insurance, licensing, property improvements, and a $20,000 cash reserve held separately from working capital. No portion is for personal or consumer use.
Preferred structure is interest-only for 48 months with refinance or balloon at term. Financial projections show positive operating cash flow by Month 2 and full principal payoff well inside the 48-month term, supported by other household income covering the owner draw if needed. Borrower brings 25+ years of small-business IT and operations background plus a hands-on small-engine and hydraulics skillset that keeps maintenance in-house. Phase 2 expansion is self-funded from operations and gated on utilization thresholds — it does not draw on this loan. Full business plan, financial model, and supporting documents available on request.

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Loan Request for Land loan in Edgewood, WA, 98372