Work With Us for Ground-up Construction Financing in Texas
April 13, 2022
The Texas Gulf Coast region is booming with new construction. As the population continues to grow and expand into newly-developed communities in the region, there are many opportunities for commercial construction and residential projects.
When building on vacant land, it’s important for construction companies and contractors to have access to ground-up construction financing that will help them access financial resources to support construction on undeveloped land.
We know how important it is to have a partner on your side to overcome today’s roadblocks with ground-up construction. Whether you’re facing increased costs in your budgets, supply chain management issues, labor shortages, or other issues, we’re here to help your business. Learn more about why now is a great time to work with Texas Gulf Bank.
Ground-up Construction Projects We Support
We currently provide financing options to construction companies and contractors for a variety of ground-up construction projects:
- New residential homes in sprouting urban/suburban neighborhoods.
- Residential homes on untapped land in the rural/country areas.
- Construction for owner-occupied commercial or industrial buildings.
- Mixed-use projects or other urban development projects that combine elements such as residential, retail, parking, transportation, and healthcare.
We are certainly available to provide support for other types of ground-up construction projects. We understand the market is constantly changing and new types of projects are being strategized to address the latest needs of people and businesses along the Texas Gulf Coast.
Our lending team is very experienced with these types of situations. We understand the unique needs of ground-up construction financing, which makes the process as smooth as possible to help you gain access to the funds that you need for your next project.
Why Apply for Ground-up Construction Financing Through Our Bank?
Our business loan application process is streamlined, straightforward, and doesn’t involve a lot of red tape. As an independently-owned and operated local bank, all of our lending decisions are made in-house through our loan committee, which meets regularly to review and approve loan applications.
Unlike larger banks that require weeks or even months to review your loan application, we have the flexibility to work with your project timeline. That way, you can complete the loan application process, receive funds, and start mobilizing teams to the jobsite.
To get started with applying for ground-up construction financing, we ask that applicants provide the following project-related information to our bank to expedite the application process:
- The executed construction budget.
- A construction contract for the work to be done.
- Drawings of the project.
- Original survey of the property that you are building on.
- As the project continues, we will also require a form or slab survey.
We also ask that applicants provide the following business and personal-related information to help us evaluate the financial strength of your business.
- Application for the ground-up construction loan.
- Three years of tax returns from your business.
- A personal financial statement.
- Other items may apply if you are self-employed.
- Additional information as may be required based on your project.
Our goal is to understand your experience with these types of projects, the financial strength your business adds to the project, and your ability to repay the loan once the project is complete. The more information you provide, the faster we can approve funding.
Find Support For Your Ground-up Construction Projects in Texas
There are plenty of construction opportunities on vacant land throughout the Texas Gulf Coast region. Now is the time to access the financial resources you need to overcome today’s hurdles with ground-up construction projects.
We encourage you to get in touch with our bankers to get started on the loan application process. We have supported the business needs of our community for more than 100 years. We’ll do the same for your business. Let’s get started today.
All loans subject to credit approval.