There are different construction loan
options that businesses operating in the industry can use to expand their business or address any other financial challenges they face.
A construction watcher said that construction loans
not closing on time "is very common." But in this case, some demolition work had started on the project before the major portion of the construction loan
Frances Mansour-Bergin, vice president and construction loan
administration manager at CenterState Bank, said, "We were in need of a modern and mobile approach to improve efficiency and consistency, while simultaneously improving the borrower experience and reducing risk with real-time reporting.
A construction loan
can be granted to fund all or part of the soft and hard costs required to build and otherwise develop a new project.
Trinity Street Capital Partners (TSCP) has announced of a USD 28.5 million high leverage, non-recourse construction loan
for the development of a 222-key AC Marriott hotel in Atlanta, Georgia, the company said.
Brad Domenico and Kathy Anderson of Progress Capital negotiated the construction loan
for YYY 62nd Street LLC, a joint venture between Joy Construction and Maddd Equities, to construct and fit out the new seven-story office building.
The Reserve Bank today published revised rules that exempt construction loans
from the Loan-to-Value Ratio (LVR) 'speed limit' introduced last October.
"Where a standard mortgage loan has essentially three parties, the member, the credit union and the Realtor representing the seller, a custom construction loan
can have the member, the credit union, the construction company, and one or more construction appraisal firms or individuals involved," Olson said.
Non-traditional construction lenders such as life insurance companies, specialty finance companies and real estate investment trusts (REITs) are funding new construction projects through the use of third-party construction loan
The board of directors of the Tourism Development Fund (TDF) and the Government Development Bank (GDB) approved the financing of a US$120 million construction loan
for the 150-room Bahia Beach St.
They got a construction loan
from a bank to build 46 single-family homes at an average price of $287,500.