New Construction Loan Program
Working on a project from the ground up? Whether it is brand-new construction or a teardown and rebuild, Superb Business Capital can help. We should note that we can fund spec homes but not model homes, and will consider both stick-built and modular construction. However, we cannot finance mobile homes.
We can fund single-family property (1-4 unit), multi-family property (5-8 unit), and small to mid-sized subdivisions.
We will carefully analyze your project's parameters and timeline and use that information to craft a customized loan package.
Click below to get a no-obligation quote on your next project.
New Construction Loan Matrix
| Where We Lend | AL, AR, CO, CT, DC, DE, FL, GA, ID, IL, IN, IA, KS, KY, LA, MA, MD, MI, MO, MS, NE, NH, NJ, NC, OH, OK, OR, PA, RI, SC, TN, TX, UT, VA, WA, WV, WI, WY |
|---|---|
| Loan Purpose | Residential SFU (1-4 Unit) and MFU (5-8 Unit), Small Subdivisions |
| Loan Amount | $100K + |
| Loan Process | Paperless, automated and online |
| PrePayment Penalty | None |
| Terms | Up To 24 Months |
| Loan To Cost Max | Up to 85% of actual new build cost |
| Determination of Value | Appraisal ordered by Superb Business Capital using approved Appraisal Management Company (AMC) |
| Borrower | Loans are made to business entities (e.g., LLC, Corps, etc.) only -- not individuals |
| Credit Score | Generally 680 or higher |
| Experience | 1+ exit within the last 2 years within same area as new project |
| Credit Grid | No foreclosures in last four years, no open tax liens, and no bankruptcies discharged in the last two years. |
| Occupancy | Non-owner occupied |
| Income | Not required |
| Environmental | Feasibility and Environmental Impact studies required |
| Structural | Architectural plans and building permits in hand. No raw land. |