Although there are many construction financing companies, knowing the right one can be challenging. If you are looking for a lender to fund your development, ABG International Inc is highly recommended for you.
This article provides a lot of insights about construction financing, as explained below.
What is Construction Financing?
A construction loan refers to a loan used to finance the construction or rehabilitation of various commercial projects, such as medical buildings, schools, hotels, and many more.
Commercial Construction Projects Financed Through ABG International Inc
At ABG International Inc, we are committed to financing various commercial projects to spur economic development. Here is a list of some of the projects we fund.
- Hospital buildings
- National hotels and restaurants
- Shopping malls
- Office buildings
- Education buildings
Construction Loan Types
ABG International Inc offers different loan types, as explained below.
Land development loan
Land development loan is ideal for the development of stalled sub-divisions or commercial properties.
Interim construction loan
With interim construction loan, all construction materials and labor are financed.
Takeout loan provides permanent funds for your projects in instances where a temporary loan exists.
We provide this facility when your land is ready for development or improvements.
Mini perm loan
Mini perm loan is a temporary financing used to offset an outstanding property loan that will generate income upon completion.
Advantages of Construction Loans
Some of the benefits of construction loans include:
- The interest rates only keep adding to the principal as long as the construction is ongoing. That means that once installation is complete, the amount you will pay after construction is relatively low. Your financing option does not expect you to start paying for the loan as construction is going on.
- The terms of the loan are more flexible than those of the traditional loans. You can use the guidelines and the terms of the loan to work well according to the requirements of the specific project.
- The watchful eye of the financing option you choose ensures that the construction work proceeds according to the written schedule and budget.
Whether you are looking for a construction loan for a residential or commercial building, you can get it from ABG International Inc at favorable terms.