Finding Commercial Construction Lenders
Using C-Loans.com
If you're reading this message, there is good news about your commercial construction loan request. My name is George Blackburne III, and I'm the attorney that owns both C-Loans.com and CommercialMortgage.com. I also own Blackburne & Sons, the $50 million hard money commercal mortgage company that I founded almost 40 years ago. After almost 40 years in this business, I know a little bit about commercial real estate finance.
The good news: I have looked at your commercial construction loan request, and it looks do-able.
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Need Equity Dollars?:
Ninety of all commercial construction loans that get rejected are rejected because the developer didn't have enough skin in the game. If you need help raising equity dollars, I am available for consultation at the rate of $375 per hour, with a minimum of only $100. I may be able to set you straight in just twenty-five minutes. I consult three times per week, with a maximum consultation time of one hour, at precisely 1:30 p.m. ET on Mondays, Thursdays, and Fridays. Please call my son, Tom Blackburne, at 574-210-6686 to set up a consultation.
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The bad news is that you did not use C-Loans.com correctly. You probably clicked on one of the big, blue buttons on our site and downloaded a free list of 200 commercial lenders, a free commercial loan placement kit, or some other freebie. Maybe you didn't even use C-Loans.com at all. Maybe you used CommercialMortgage.com instead. Neither of these steps actually gets your construction loan funded.
Let's take a breath... You are NOT wasting your time. C-Loans has closed more than 1,000 commercial real estate loans totaling over $1 billion. In terms of number of closings, we are one the largest originators of commercial real estate loans in the county. I say this only so that you will believe that C-Loans works. You will fill out a four-minute mini-app. Then you'll ask C-Loans to show you the most suitable construction lenders. You'll put a checkmark next to six and them and press, "Submit." Within minutes our hungry construction lenders will be contacting you with offers.
But first, you need to properly register on C-Loans. This is just a fancy way of saying that you have to give us your contact information, so that our lenders can contact you. I know, I know. You already gave us that information, right? Unfortunately the lead collection software that we use (Hubspot) cannot communicate with C-Loans' operational software.
Once you have registered, simply follow the six steps until you reach the Suggested Lender List. There are over 750 commercial lenders on C-Loans, and most of them are banks. Banks love-love-love to make construction loans.
When filling out your C-Loans app, please pay special attention to the Cost Section and the Loan-to-Cost Ratio. If you cannot get your loan-to-cost ratio down to 80% or less, no construction lender in the country will give you the time of day. There is a special section that asks you to detail the source of your equity (skin in the game) in the project. Please outline your equity contribution with particularity. If you have additional cash to contribute, please be sure to so indicate.
Do you know what really-really helps any any construction loan application?
Answer: A color rendering! Such renderings of what the project will look like when completed make a huge difference. What if you don't have a color rendering? An aerial picture of the land is also fantastic. Either of these pictorial aids will increase your likelihood of getting funded several times over. What if you don't have either a color rendering or even an aerial photograph? Some nice pictures of the site and several street views will help a lot too.
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Need Equity Dollars?:
Ninety of all commercial construction loans that get rejected are rejected because the developer didn't have enough skin in the game. If you need help raising equity dollars, I am available for consultation at the rate of $375 per hour, with a minimum of only $100. I may be able to set you straight in just twenty-five minutes. I consult three times per week, with a maximum consultation time of one hour, at precisely 1:30 p.m. ET on Mondays, Thursdays, and Fridays. Please call my son, Tom Blackburne, at 574-210-6686 to set up a consultation.
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Okay. Let's get your construction loan request into C-Loans.com and start the six-step process.
