Commercial Construction Loans
Build Your Business Success with Our Commercial Construction Loans
At 1st Colonial Community Bank, we're more than just a bank
- we're a part of the Southern New Jersey and Southeastern Pennsylvania
community. We've been serving local businesses and real estate investors for
decades. Our Commercial Construction Loans are designed to provide the financial
backing you need to build or expand your commercial properties. Trust us to
guide you through every step of the process with the same commitment to
customer service and community building that we've upheld for years.
Contact Our Business Team
Build Your Vision with Commercial Construction Loans
Commercial Construction Loans can be a strategic tool for
your business or investment portfolio. Commercial Construction Loans provide
the flexibility to finance the construction or renovation of commercial
properties. Whether you're building a new office, retail space, or rental
property, our loans can provide the funds you need. This flexibility allows you
to pursue ambitious projects that can drive your business growth. Here's how:
- Controlled Disbursements: With a
draw schedule, funds are released as construction progresses, ensuring money is
used efficiently and the project stays on budget.
- Interest-Only Payments During
Construction
: During the construction phase, you're typically only required to
make interest payments, helping to keep costs manageable.
- Loan Conversion: Once construction
is complete, the loan can often be converted into a traditional Commercial Real
Estate Loan, providing a seamless transition from construction to ownership.
Contact Our Business Team
Start Building Your Business Future Today
With 1st Colonial Community Bank, you have a trusted partner
who understands the local market and is committed to helping you succeed. Our
expert business team is ready to guide you through every step of the process,
providing personalized service and tailored solutions to meet your unique
needs. With branches in Collingswood, Westville and Limerick, PA, we're
conveniently located and always within reach. Take the first step towards your
next business venture. Contact us today to set up an appointment.
Frequently Asked Questions About Commercial Construction Loans
What is a Commercial Construction Loan?
A Commercial Construction Loan is a short-term loan used to
finance the construction or renovation of commercial properties.
How does a Commercial Construction Loan work?
A Commercial Construction Loan typically involves a draw
schedule, where funds are released as construction progresses. During
construction, you usually make interest-only payments. Once construction is
complete, the loan is often converted into a traditional mortgage.
What can a Commercial Construction Loan be used for?
Commercial Construction Loans can be used for building new
commercial properties or renovating existing ones, including offices, retail
spaces, warehouses, or rental properties.
What is a draw schedule?
A draw schedule is a plan for disbursing the loan funds. It
outlines when funds will be released based on the completion of specific
construction milestones.
How can I apply for a Commercial Construction Loan?
You can start the application process by contacting our
expert business team to set up an appointment. We'll guide you through every
step of the process.
Contact Our Business Team