SPOKANE, WA–Source Capital Corp., a commercial real estate lender headquartered in Spokane, here, has reported a net income of $256,394 or 20 cents a share for the third quarter ending Sept. 30. While the earnings represent a nominal increase over the commercial lender’s second quarter earnings, they are 16% lower than the third quarter of 1999.

Source Capital Corp. specializes in commercial real estate lending and equipment. Through the first nine months of the year, it has reported a net income of $798,640 or 60 cents a share, a penny more than last year’s nine-month earnings. Looking forward, the firm also is anticipating lower fourth quarter earnings as the result of a problematic lease that currently has an outstanding balance of $135,000. If the money cannot be collected, nearly the entire balance could be written off in the fourth quarter.

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