©2018 by Pimlico Group.

The commercial construction loan is designed specifically for larger projects and ground-up development. Our simple process facilitates quick approval of your plans, specs, and budgets, so you can get to building as soon as possible. Additionally, we can start funding a project once the land or building is purchased.

Because even the best construction plans sometimes require changes, Pimlico’s terms allow for weekly construction holdback draws and can be structured to finance up to 100% of construction costs (subject to approval). There are no surprises with Pimlico.

Loan Requirements

  • For Individuals and Business Entities

  • Maximum LTV 65% (Finished Value)

  • Minimum Down Payment: 10% of Construction Costs

  • Personal Guaranty

 

Standard Loan Terms

  • 10-12% Interest Rate (Interest Only Payments)

  • 2-4 Origination Points

  • $0 Processing Fee

  • $0 Draw / Inspection Fee

  • 12 Months (Extensions Available)

Construction