Ground up construction lending is on the rise again and all the professionals who were in the business have found new careers, except at CFSI. We hired the best team in the industry, continued to support the construction business in the downturn, and held on to a seasoned team, helping our clients both grow and mitigate risk as the landscape changed.
Ground-up construction requires a great deal of experience with regard to contractor and project feasibility, much more intensive than a rehab, especially if it is a large commercial or multi-family project. We validate the budget, plans, specs, appraisal, and contract along with all critical components that need to be looked at prior to funding.
The funds control process is just as critical with the sheer number of sub-contractors, invoices, and lien releases that need to be collected, validated, and balanced against the budget, while simultaneously ordering and doing a quality control review of the inspection report. All of these steps are what we go through to make sure the recommendation you receive from CFSI about funding your draw request is the most comprehensive and concise report in the marketplace.