We at Monroe Funding Corp are aware of the value of construction financing in preventing financial setbacks for your development projects. It is true that, under some circumstances and with particular lending programs, obtaining funding can be difficult for contractors and construction companies. However, with the appropriate lender, the application and approval procedure can be simple.
Many construction loan applicants make the error of looking for conventional loans from established institutions. Regular banks are subject to rules that lengthen and complicate the loan application procedure. With more latitude in the application and approval processes, a private Florida commercial real estate lender that specializes in construction or hard money loans can expedite the procedure and fund your projects more rapidly.
Many individuals are concerned about the higher interest rates that private Florida commercial real estate lenders charge for quick loans, but with construction loans, the long-term impact of the difference in rates is probably negligible. However, given the rates, we advise all borrowers to have a plan for paying off their debts before the loan’s terms outweigh their worth.
It’s not as difficult as it might seem to obtain a construction loan, especially when working with a private Florida commercial real estate lender like us.
Monroe Funding Corp has a wealth of experience and knowledge to help you reach your investing goals. To learn more about Florida Commercial Real Estate Loans, contact us online or by phone at +1 (954) 419-3539.