A construction loan (also known as a “self-build loan”) is a short-term loan used to finance the building of a home or another real estate project. The builder or home buyer takes out a construction loan to cover the costs of the project before obtaining long-term funding. Because they are considered relatively risky, construction loans usually have higher interest rates than traditional mortgage loans.
Financing Commercial vehicles | Read More.
CONSTRUCTION PROJECT FINANCING FOR CONTRACTORS
Contractors that work on construction projects averaging $500,000 and above often need help managing their cash flow while they are completing the job.
- Contractors simply cannot afford to wait 30-90 days or longer to get paid.
- AMK Funding with its Affiliates can offer Contractors a line of credit.
- General Contractors and large Subcontractors can obtain a line of credit for construction projects that total $500,000 and above.
- Contractors can now complete jobs without creating cash flow problems.
- Progress payments accelerate your cash flow to offset labor and fixed costs.
- You can pre-qualify to bid and win more projects and bigger jobs.
Contractor Program Highlights
Access to Funds:
- Per diem money costs are very affordable and easy to budget
- Access all or a portion of the available funds on an “as needed” basis.
- Contractors can bid to win more jobs and bigger projects
- Contractors can purchase needed equipment instead of renting
- Contractors can better qualify for additional bonding
Built-in Management Controls:
- Third Party Administrator disburses and manages funding
- Verification of invoices assures Subs are paid correctly
- Verification of completed work is done on-site by our Engineer