At FNB Small Business Finance, we have a dedicated Construction Management Team that will not only help educate and prepare you – we will be with you at every step through the completion of your project. Our entire team is available to help you from the very earliest point of planning for your project to advise you and to help ensure your project comes in on time and on budget. Our team has helped manage hundreds of projects worth many millions of dollars, and this experience and knowledge has been very valuable to our past and current clients.
Unlike many other construction lending institutions, we maintain direct contact with you and the general contractor through the life of the construction funding. By taking the time to get to know your particular business needs, we are able to build a loan that will minimize your risk during the construction period and increase your capital.
Features
- Up to 90% financing available
- Construction-to-Permanent financing available
- Contingency for Cost Overruns Included
- Interim Interest Reserve
- Includes Contractor Qualification, Cost Analysis, Disbursement Controls, Site Inspections at each Draw request, and Insurance Requirements
Benefits
- No Delays in Rollover
- One Loan, One Closing, One Set of Documents, One Rate and Fee
- Measures Put In Place to Prevent Disruption of Funds During Construction, Guard Against Misappropriated Funds, Verify Contractor Qualification, and Allows Borrower to Concentrate on Running Their Business
Pre-Application Checklist:
Documents to have available for a call with our team:
- All current mortgage statements
- Current bank statements and/or account balances
- List of all owners having 20% or more ownership in the subject business along with any affiliates (if applicable)
- List of all current business debts and their respective monthly payments
- Tax Identification Number for the business and/or its affiliates
- DUNS (Data Universal Numbering System) number
