Commercial construction loan financing is a dynamic process. With traditional commercial mortgage loans, typically all loan proceeds are funded to the borrower at the time of loan closing. In contrast, with commercial construction loan financing the loan proceeds are funded to the borrower in increments, as the project is being built. The construction lender usually inspects the work and verifies lien waivers from the contractors before making subsequent loan disbursements. Sometimes this construction monitoring and disbursement is handled by the lender, and sometimes it is outsourced to a third party who is put in charge of handling the construction loan disbursements.
In 2010 commercial construction loans are hard for many borrower to obtain. However, Financial Compound is an active commercial mortgage broker working with numerous, currently active, commercial construction loan financing lenders. We welcome all construction loan inquiries. So long as the demographics support the construction request, and the loan requested as a percentgage of project cost is reasonable along with borrower credit and equity support, Financial Compound is able to place and close all the wide variety of commercial construction loan financing requests that exist in the marketplace today. In 2010 Financial Compound has processed commercial construction loans nationwide for industrial buildings, hotels, apartment buildings, townhomes, condominiums, single family developments, and retail shopping centers. Financial Compound has noticed that it is more difficult to obtain a construction loan than prior to the credit crunch in 2007, but certainly possible and practical.