Construction Loan Guidelines:

Eligible Properties:

Most projects and properties, foreign and domestic, should be acceptable; assuming that they are reasonable for their location, and can document appropriate zoning, approvals and market demand.

Locale:

North and South America, Asia, Europe, Caribbean, others possible

Loan Size:

$1,000,000 minimum domestic, $5,000,000 non-domestic

Pricing:

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Market:

Mid to large market sectors with strong and verifiable marketability.

Loan Terms

Varies by lender

Prepayment

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Personal Guarantees:

Typically recourse

Loan to cost:

65 -70%

Loan-to-Value:

Typically 70 - 75%

Rate Lock:

On approval

Presale Requirements

Pre-sale or pre-lease requirements may apply.

Impounds

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Preliminary Submission:

Include the following in your request:

1. Project summary with property description and location map

2. Personal Financial statements

3. Representative color photographs

4. proforma income statement for duration of project

5. Resumes (builder and borrower)

6. Existing company balance sheet

7. Current year company operating statement

8. History of property – when bought, what paid, how financed

9. Commercial Application

10. Business summary or business plan

11. Cost breakdown entire project

12. Use of funds document

13. Status of permits and approvals

14. Appraisal to show as-is value and as-completed value

15. Exit strategy explained; pre-sale and pre-lease data

16. Itemized list of cash expenditures made by borrower so far

17. Plans, drawings, elevations, maps and lay outs