Construction loans Quest Commercial Capital
Construction loans Quest Commercial Capital are available for most property types and locations.The project must be shovel ready with all permits and entitlements. The executive summary should give a complete planned summary of the project in paragraph form, detailing the project, its necessity, location and the strengths of the project that will make it profitable.
The second essential item is a complete resume of the principals involved in the project and the contractor who has been awarded the ground up construction of the project. The resume must also include a list of all successfully completed projects. Work experience specific to the project is a key factor for loan approval.
Pro-forma projections of the project, expected income and profits, a complete cost breakdown analysis and time frame ought to be included. Data on property demographic, absorption studies and marketing strategies should also be included. A planned and detailed summary helps speed up the approval of the loan. Incomplete reports often do not qualify for loans. Financial statements of the involved principals and the contractor are required too.
Construction loans Quest Commercial Capital will assist in submission process making sure we have all the required information assemble in a format underwriters prefer. Loan products will vary with property types.
If the construction is a commercial complex, apartment building, or an office space then information of all pre-sales must be provided with legitimate paperwork and proof. A 50% pre-sales works in your favor when the loan comes up for approval.
The important consideration for a commercial construction loan is construction experience and pre-sales.
We have commercial construction loans, SBA loans and HUD loans available along with mezzanine loans for expansion to existing projects.