This is a textbook case of what happens when a highly professional broker introduces their equally experienced builder client to Seattle Funding Group.
They came permits in hand and with all the required due-diligence paperwork available. In addition, they had the energy and focus necessary to close as quickly as possible on demo and ground-up construction financing for two spec SFRs in Coastal Huntington Beach.
And SFG responded by closing the transaction in less than three weeks from receipt of the signed LOI.
But we are getting ahead of ourselves…
We are often asked, “How quickly can you close a construction loan?” The simplest, most direct answer is…it is entirely up to the sponsor, their energy and focus, and the availability of the permit(s). When all elements are in place, there is no loss of priority (NO LOP), and everyone is grabbing for the oars, SFG will close construction loans in four weeks, and sometimes, in under THREE.
Now THAT’S Moving at the Speed of Business!