Commercial real estate development can be a complex topic. There are many things you need to have in place before you can get approved for a loan such as building plans and permits, construction budgets, market/feasibility study, and an exit plan. If you are a first time developer then you will have a more difficult time acquiring financing since you do not have a proven track record. If this is the case, then it would be beneficial to bring on a partner who has experience with development projects. Another tip for first time developers is to increase your equity contribution. Increasing your equity contribution will lower your overall loan-to-cost (LTC). This limits the risk from the lender’s perspective, increases chances of approval and better rates.

How To Get a Commercial Real Estate Development Loan?

Every commercial real estate development project has a unique set of needs, so it makes sense to work with a commercial loan broker to help guide you to the type of financing that fits your project. Simple Commercial Capital can help you find the right lender that specializes in development financing. Give us a call at 1-866-554-1120 to discuss your options in more detail. Our goal is to make this process as simple as possible for you.