PLOC Bank Referral Needed

[James Marszalek]

Hello everyone! 

I've got a single family rental in Spokane that has positive cash flow. I'm interested in getting a Secured Line of Credit for about $1,200 to accelerate the mortgage so I can pull a HELOC later down the road. I'm having trouble finding banks who offer a true simple interest revolving line of credit. 

My credit is locked up thanks to a defaulted business loan from 2012 where we had to close the doors. I'm still in negotiations with the SBA to settle. I'm a licensed real estate agent, so my income is variable. Thus, a cash secured line of credit is my best option. I will use the cash flow from the property to utilize this strategy. 

Can anyone give me an idea of what banks I might talk to in order to get a PLOC? Thanks! 

I'm located in WA State, but I'm open to chatting to whoever can offer the terms I need.