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Rakhi Vasavada
Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4416
Experience:  Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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Have contract to build a commercial building. Funds are in

Resolved Question:

Have contract to build a commercial building. Funds are in the customer account need money to start project to start drip on the draw of the schedule of values
Submitted: 5 years ago.
Category: Finance
Expert:  Rakhi Vasavada replied 5 years ago.

Dear Friend,

 

So far as I understand from your question, you have a confirmed contract to build a commercial building but need money to start it.

 

You have some options. You may opt to have Construction Loans. Since you have confirmed contract in hand, that may not be difficult. http://www.nationalfinancer.com/mortgage_loans/construction_loan.php

 

http://www.mymortgagebanker.com/New-Construction.php

 

http://www.peoplesbankga.com/loans.asp#CommRE

 

 

The other options can be Bridge financing. http://www.nationalfinancer.com/mortgage_loans/bridge_loans.php but they are usually to relatively shorter period.

 

In any case, since you have confirmed contract in your hand, obtaining financing should not be a problem.

 

I hope this helps...

Warm Regards,

Customer: replied 5 years ago.
The links you perfered do not lead me in the direction to get a loan on confirmed contract.
We look at the links nothing is stated to make this happen. Please tell me which loan product I need to use to get financing on the confirm contract.
Expert:  Rakhi Vasavada replied 5 years ago.

Dear Friend,

 

There are no "specific" schemes that finances solely on confirmed contracts. Please note that you will have to go for routine constructions loans but having "Confirmed" contracts is bound to make your job a lot easier.

 

I hope I am clear...

Warm Regards,

Rakhi Vasavada, Financial and Legal Consultant
Category: Finance
Satisfied Customers: 4416
Experience: Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years
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