One of the biggest risks in construction lending is making a loan on an asset not yet in existence. If a project is not feasible from the start of construction the project may be in trouble long before it begins.
In order to lessen this inherit risk, CFSI Loan Management offers a pre-close feasibility review of your project. By reviewing the budget, contract, plans/specifications, appraisal and permits CFSI can present a clear picture of the project even before the first concrete is poured. Any potential issues related to insufficient budgets, weak contracts, or under-detailed plans (and more) will be determined prior to loan closing, thus allowing these to be addressed and corrected before any loan funds are disbursed.
CFSI works directly with the General Contractor to obtain all of the documentation needed to complete this review. Our high touch approach will allow our clients to work on the loan approval, while CFSI completes the project review quickly.