New Construction Mortgages - Nationwide Building Financing
Specialized construction lending for new home builds and development projects. From construction-to-permanent loans to custom home financing, we provide the expertise and flexibility needed for successful building projects.
To schedule your service, contact our team at (207) 447-0429 or visit us at our Madison location.
- Complete Business Financing Solutions
Our business loan services include SBA 7(a) loans, SBA Express loans, SBA 504 loans, equipment financing, lines of credit, and invoice factoring. We provide comprehensive loan analysis, competitive rate shopping, streamlined application processes, and ongoing support throughout your financing journey.
- Why Professional Business Financing Matters
- Your Business Growth Partner
Our Business Loans - Nationwide Financing Solutions Services
Construction-to-Permanent Loans
Versatile SBA financing up to $5 million for working capital, equipment, real estate, and business expansion with government backing and competitive terms.
Construction-Only Loans
Fast-track SBA financing up to $500,000 with streamlined approval process and rapid funding, typically completed within 36 hours for urgent business needs.
Custom Home Construction
Long-term, fixed-rate financing for commercial real estate and major equipment purchases with low down payments and favorable terms for business growth.
Spec Home Construction
Specialized financing for business equipment, machinery, and technology with competitive rates, flexible terms, and quick approval for essential business assets.
- FAQs About Business Loans - Nationwide Financing Solutions
Q. How do construction-to-permanent loans work?
You close once for both construction and permanent financing. During construction, you make interest-only payments on drawn funds. Upon completion, the loan automatically converts to a traditional mortgage without additional closing.
Q. What are the qualification requirements for construction loans?
Requirements include strong credit (typically 680+), adequate income and assets, detailed construction plans and budget, qualified builder approval, and typically 20-25% down payment including land value.
Q. How do construction draws work during the building process?
Funds are released in stages based on construction progress. We coordinate inspections and approve draws as work is completed, ensuring proper construction progress and fund management throughout the project.
- Important Terms
Single-Close Loan – A construction loan that includes both construction financing and permanent mortgage in one transaction, eliminating the need for separate closings and reducing overall costs.
Construction Draw Schedule – The predetermined stages at which construction funds are released, typically tied to completion milestones like foundation, framing, roofing, and final completion.
Conversion – The automatic process where the construction loan converts to a permanent mortgage upon completion, without requiring a new application or closing.
Construction-Only Financing – Short-term loans specifically for the construction phase that must be paid off with permanent financing or sale upon project completion.
Contact The Onyx Equity Group Today
Contact The Onyx Equity Group today for business financing solutions you can trust.
Visit us at: Nationwide Financial Services