Tag
Single-close construction
Why Banks Should Require Single-Close Construction-Through-Perm Loans
Every commercial lender knows the feeling. The bank took the hardest risk on a project – the construction phase. The bank managed the draws, monitored the budget, inspected the site, and shepherded the borrower through permitting delays and cost overruns. Then, just as the project stabilizes and the loan finally becomes easy to hold, the…