Creative Capital for your Construction Projects.
Are you tired of your projects being underfunded or draws not coming when they are supposed to?
We are a team of construction experts! We have construction draw programs designed for each type of scenario.
The Approved Builder or Commercial developer
Funds can be used for Land Acquisition
Depending on the lender chosen there can a limited # of draws or as many as you like. Each draw normally comes with a draw fee and is based upon the file sale,
the % completion less the holdback. It is very important to properly cashflow plans. Below is an average construction progress schedule for home construction.
Larger commercial files are based on a similar schedule but will use a cost consultant instead of an appraiser.
Draw schedule & Progress Report
| Project Completion % | ||
|---|---|---|
| Draw 1 | Excavation, Foundation and Backfill | 14 |
| Draw 2 | Framing & Roof | 17 |
| Draw 3 | “Lock up” + Rough in electrical, plumbing and heating & Insulation | 12 |
| Draw 4 | Exterior Finish, Drywall, Cabinets, electrical complete | 37 |
| Draw 5 | Plumbing, Basement floor, painting all other finishing & Grading | 20 |
Contact our office at 613-590-7100 or email mortgages@bestinterest.ca to speak with a construction specialist.
