Commercial Construction Loans to Support Your Growth
When it’s time to expand your company’s footprint or build a new facility, a commercial construction loan from Consumers National Bank can help finance your plan.
Our experienced lenders will work with you to tailor a loan that fits your specific needs and budget. Whether you’re looking to build a new office building, retail space, or manufacturing facility, we can provide the financing to make it happen.
With competitive rates and flexible terms, our commercial construction loan services in Ohio offer the financial support you need to bring your vision to life. Why do you need a construction business loan?
Instead of drawing on your cash reserves, you can use construction loan funds to pay for:
- labor and materials for new construction
- land purchase and development costs
- renovation of an existing space
- architectural and engineering fees
- permitting and inspection costs
- equipment and machinery purchases
- furniture and fixtures for the new space
- insurance costs related to the project
Disbursement and Reimbursement of Commercial Construction Loans
Unlike other commercial construction loans that deliver financing in a lump sum, construction loan disbursements align with project milestones. For example, fund draws could support phases such as land clearing and development, the foundation pour, and building framing, with funds disbursed until project completion.
- With a minimum down payment of 10%, you pay fixed or variable interest on received funds, then pay the principal amount in a lump sum upon project completion.
- Or you can work with your Consumers National Bank lender to secure a commercial mortgage on the property and repay the loan in cost-effective payments over time.
Experience the personalized service of banking experts and local underwriters who focus on expediting the process so you can focus on growing your business.
Want to know how you can qualify for Consumers’ commercial construction loan? Contact our lending team today!
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