Construction lending is about trust in the schedule and the budget. We fund ground-up builds, major renovations and infill developments through monthly progress draws verified by an independent cost consultant, with the first draw structured to get the project moving rather than tied up in conditions.
We work alongside experienced builders and developers with pre-sales, pre-leasing or a clear take-out in place. Where the project is well-sponsored but the bank wants more equity than the sponsor has liquid, we can bridge the gap with a second-position facility.
What a typical facility looks like
- $1 million to $10 million
- Up to 70% loan-to-cost
- Monthly draws against certified progress
- Interest reserve built into the facility where appropriate
Send the pro forma, the budget and the sponsor track record. We will come back with a term sheet or a clear reason why not.
