Construction Loan

Construction loans are designed to fund each key stage of the building process. This means that lenders release funds via progress payments rather than an upfront loan amount. These payments follow an approved progress payment schedule outlining when and how much of the total loan balance will be released.  During the construction period, you’ll pay interest repayments only on the amount released as opposed to the full loan amount. 

Overall, non-bank lenders have a far more streamlined process and fewer bureaucratic hurdles than traditional banks which will help to expedite your financing approval process. The credit approval process can take anywhere from a few days to a few weeks, depending on the complexity of the project and the completeness of the documentation provided by the borrower. Preparing thorough documentation and responding swiftly to requests for additional information can significantly speed up this process. Additionally, the experience of the developer and the strength of their financial position can also influence the speed of financing approval. In all cases, our goal is to remove as many hurdles and roadblocks as possible in order to help you get the fast, flexible, short-term loans that will help your business thrive. 

When applying for a construction loan with a non-bank lender such as CCG, it's essential to compile a package of documentation that supports the viability of your construction project. These documents help us to assess your ability to repay the loan. For the construction project itself, you will need to submit the construction plans, timelines and a comprehensive budget. This should be supported by legal documents such as property deeds, proof of land ownership, and relevant permits or zoning approvals. In addition, information about the builder or contractor, including their qualifications, license, and insurance, will also be crucial. Additionally, you will need to provide cost estimates from contractors and suppliers, as well as an appraisal of the property’s expected value upon completion. Together, these documents paint a full picture of the project scope and your preparedness to manage it financially, streamlining our approval.

We specialise in fast, flexible, short-term construction loans, secured by Australian real estate, for individuals and companies seeking immediate funding and fast approvals without the delays and hassles of traditional lending services such as banks, credit unions or building societies. We offer our creditworthy borrowing clients a wide range of financial solutions and private lending services tailored to each of their unique lending requirements. We know that no two borrowers are the same so we personalise each rate so you get a flexible loan that fits your unique scenario. As we have years of experience as a Non-Bank Lender, we are able to move quickly so you can act fast. 

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If you are interested in applying for a construction loan you can speak to one of our friendly Business Development Managers by calling us on 1300 795 507, or email us at [email protected]. We are always available to discuss your unique scenario and have a dedicated team of specialists who can tailor a financial solution to your borrowing needs.