Loan programs / Real estate
Construction & Bridge Loans
Short-term financing to build, renovate or reposition a property, then carry it until permanent financing or a sale.
Project types
Ground-up, renovation, value-add and bridge
Leverage
Often up to 75–85% of total cost, depending on the lender and your experience
Terms
Usually 12 to 36 months, often interest-only
Funding
Released in draws as work is completed
Who it’s for
A good fit if you are…
- Builders and developers with a track record
- Investors repositioning or leasing up a property
- Buyers who need to close quickly before permanent financing is available
- Owner-occupied projects, which may also fit SBA 504
Common uses
What the funds can cover
- Ground-up construction
- Major renovation and value-add projects
- Bridge financing to stabilization
- Land acquisition when tied to a near-term project
Figures above are typical ranges, not quotes. Your actual terms depend on the lender and your business.
What to expect
How it works with Benchmark
- Project review. We review the budget, schedule, plans, your experience and the exit strategy.
- Lender match. We present the project to construction and bridge lenders that finance your property type and market.
- Due diligence. The lender reviews the as-complete appraisal, contractor and budget.
- Closing and draws. After closing, funds are released in draws as work is inspected and completed.
Documents
What you’ll typically need
Your advisor will send a checklist tailored to your request and a secure upload link. Please don’t email tax returns or IDs.
- Plans and specifications
- Hard and soft cost budget
- General contractor agreement, license and resume
- Construction schedule and draw schedule
- Permits or permit status
- Land deed or purchase contract
- Schedule of real estate owned and project experience
- Exit strategy: refinance or sale plan
Questions
Common questions
How do draws work?
The lender funds the loan in stages. After each phase, an inspector confirms the work is complete and the lender releases the next payment.
How much experience do I need?
It varies. Some lenders want several completed projects of a similar size. Others will work with newer builders who bring more equity or an experienced contractor.
What if the project runs over budget?
Most lenders require you to cover overruns with your own funds, so we’ll help you build a realistic contingency into the budget from the start.
Next step
See if Construction & Bridge is the right fit
One short application. An advisor will review it, recommend the best program, even if it isn’t this one, and walk you through what comes next.
Benchmark Commercial Lending arranges commercial financing through a network of third-party lenders and funders and may also lend directly. All financing is subject to approval. Rates, terms, amounts and requirements vary by program, provider and borrower qualifications and can change. Program details on this page are general information, not an offer or commitment to lend. Financing is for business purposes only.