From your next site to your next milestone.
Development financing requires a plan for the complete project, not just the purchase of the site. Discuss the land, approvals, construction budget, equity contribution and intended repayment or permanent financing strategy.
Commercial land acquisition
The site’s zoning, servicing, intended use and development stage affect the financing conversation. A land purchase and a ready-to-build project can require different approaches.
Construction funding
Prepare a detailed budget, contractor information and schedule. Construction financing may involve staged advances, inspections and conditions that differ from a completed-property mortgage.
Plan the exit early
Explain whether the completed project will be sold, leased or occupied by your business. The proposed exit should be considered alongside the construction loan.
What to have ready
- Site details, ownership and purchase agreement
- Project budget, plans and construction schedule
- Approval status and contractor information
- Equity contribution and proposed exit strategy
Document requirements vary. Please arrange a secure way to share financial information with your mortgage professional.
What happens next?
Tell us the basics of your Lethbridge project. We will discuss the information needed to assess possible financing routes. A consultation does not guarantee approval or a specific rate.
Talk to Enrich ↗