Commercial Construction Financing
This type of financing is used for construction purposes. Key aspects of underwriting all types of construction loans include but are not limited to the initial review and approval of:
- Sources and Uses of funds, the project budget
- Contractor and Contractor Agreement
- Assignment and undertaking agreements with architects and engineers
- Plans and Specs
- Site Plan approvals
- Development Schedules
- Financial plan (including monthly cash flow projections)
- Sources of repayment- market data, supply and demand info
- Survey and title work and flood certification
- Documents evidencing compliance with Zoning, Building Permits, Local, State, and Federal Requirements.
- Appraisals or Evaluations as required
- Insurance, including hazard, flood, liability, worker's compensation, builder's risk, etc. Residential Construction/Builder loans also require:
- The initial review and approval of inventory limits (lots, speculative units, starts ahead of settlements, starts ahead of settlements, etc.)\
- Review of sales contracts
Land Acquisition and Development loans also require review and approval of:
- and development contracts,
- market feasibility reports,
- public improvement bonding requirements,
- lot releases as required
CNF Exchange Can Simplify the Commercial Construction Financing Process
Sound complicated? CNF Exchange makes the entire commercial construction financing process a whole lot simpler. We’re an online exchange where borrowers and lenders come together to make mutually rewarding financing deals. We do all the legwork for you while speeding up the entire loan process.
For borrowers, CNF Exchange:
- Provides a dedicated senior analyst to help you prepare your loan request and secure all documentation
- Gives you access to an extensive lender network
- Allows you to choose from multiple loan proposals to get the best possible terms
And for lenders, CNF Exchange:
- Provides access to only prequalified borrowers who are ready to do business
- Lowers your overall loan transaction costs
- Saves you time and money while building your investing portfolio
Borrowers and lenders can take advantage of our Press Room to market their company, Rewards Program in which they can gain free advertising, and the convenient and secure document uploading and sharing feature. Contact CNF Exchange about construction development loans as well.
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