WLW extended a new construction loan to an experienced builder in Tampa Bay. Borrower was 25% through construction before seeking additional capital from WLW to complete the project. WLW Capital structured the construction loan in a 4 draw schedule, extending $90,000 on the first draw (68% LTV), requiring completed site preparation, Slab/Foundation, rough plumbing, framing, trusses, and doors/windows to be completed per city inspections. The builder plans to complete the project in less than 7 months.
Loan Amount: $200,000 (Draw Schedule)
Loan To Value: 68%
Term: 1 year
Type: New Construction loan