Business Construction & Development

Flexible Construction Business Loan

3 people looking at blue prints new construction and development business lending 1st national bank

At 1st National Bank, we understand that every construction project requires a solid financial foundation. That’s why we offer tailored construction financing solutions to support your commercial construction projects. Whether you’re embarking on new construction, expanding an existing property, or renovating, our construction business loans are designed to help you manage construction costs and ensure the timely completion of your projects.

  • Custom loan solutions for your exact requirements
  • Comprehensive financing from construction-to-permanent loans
  • Local lender support, guiding you through the whole process
  • Efficient, transparent, and streamlined loan process
  • Secure financing with collateral options and strong lending support

Why Choose 1st National Bank

At 1st National Bank, we offer more than just business construction loans; we provide tailored solutions to help your construction project succeed. With our local expertise and personalized service, we ensure that your financing needs are met efficiently and effectively.

  • Competitive Interest Rates: Benefit from interest-only payments during the construction phase and competitive rates to keep your project on track.
  • Local Expertise: As a community bank, we have deep knowledge of the local market and a commitment to supporting businesses in our area.
  • Personalized Service: Our dedicated loan officers work closely with you to understand your needs and create a customized financing solution for your project.
  • Fast Approvals: Our streamlined application process and local decision-making ensure a swift response to your financing request.

Who Can Apply for Our Business Construction & Development Loans?

Our community bank in Ohio proudly serves a wide range of businesses and industries, including:

  • Commercial real estate developers
  • Small business owners
  • Builders and contractors
  • Investors and entrepreneurs
  • Industrial and manufacturing companies
  • Medical & Dental practices

How to Get Started

Ready to take your project to the next level with a construction loan or development loan from 1st National Bank? Here’s how to get started:

Step 1: Consultation

Contact one of our experienced loan officers to discuss your construction company’s needs and explore your loan options for new construction, renovation, or other construction projects.

Step 2: Submission of Application

Submit a loan application along with required documentation, such as business financial statements, project details, and collateral information. Depending on the type of loan, we may also request your credit score and other related details.

Step 3: Detailed Review by Our Experts

Our team will review your application and provide a prompt decision. Our local underwriting process ensures quick and efficient decisions for all loans for construction.

Step 4: Processing and Closing the Loan

If it gets the approval, we’ll work with you to close the loan and disburse funds in line with your construction project’s timeline, covering all expenses as needed throughout the process.

Contact a 1st National Bank Lender.

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FAQs About Construction Business Loans

At 1st National Bank, we offer a variety of construction loans for businesses, including commercial construction loans and construction-to-permanent loans. Whether you’re building from the ground up or renovating an existing property, we have flexible terms that meet the needs of your construction project.

A construction loan provides the cash you need to fund your construction project, whether you’re expanding your operations or starting a new development. The loan can cover construction costs, materials, and labor, ensuring smooth progress while improving your cash flow.

To apply for a construction loan, you’ll need to submit business financial statements, detailed project information, and collateral details. Depending on the loan, we may also require personal credit information and an appraisal of the property to assess the loan amount and the risk involved.

Our construction loans offer flexible repayment terms based on the progress of your project. Typically, interest-only payments are required during the construction phase, with full repayment due once the construction is completed. We work with you to establish a repayment plan that fits your business needs and cash flow.

Yes, we offer the option to refinance construction loans once your construction project is completed. We can help transition your loan to a long-term mortgage or other financing options that are better suited for ongoing business operations. Speak with our loan officers to explore your refinancing options.