A local general contractor began the development of a custom lake house, funding the project all-cash through the framing stage. Borrower incorrectly assumed banks would finance the project mid-stream, and, out of cash, needed to find a quick source of funds to complete the project.

Having extensive experience in high end spec and custom homes, Southeast Bridge Capitalv was able to quickly able to assess the status of the  project and provide funds to complete construction. With the home 50% complete and all permits in hand, approval was simple process, and the builder did not incur any setbacks due to financing.

Borrower intends to occupy the home once completed and will refinance with permanent debt. Southeast Bridge Capital’s loan represents 32% LTV based on as-complete appraisal. With almost 70% equity in the deal, Borrower should have no problem finding permanent financing once completed.