LendSpark finances $16.2M construction loan for a single-family residential project
They had four owners which is always a challenge. Then, adding more to the challenge was the ownership didn’t match the paper work.
Apply NowLendSpark, a leading financial institution in the industry, recently financed a construction company that was facing several challenges. The company had four owners, which presented a significant hurdle, and further complicating matters was the fact that the ownership did not match the company's paperwork. Additionally, the company had suffered substantial losses over a ten-year period and had only recently begun to experience growth. Despite the progress, their bank statements were not up to par for traditional financing options.
To help address these challenges, LendSpark's team carefully evaluated the construction company's potential for growth and crafted a loan structure that would optimize their potential. Despite the difficulties, LendSpark was able to approve financing, allowing the company to move forward and continue their growth trajectory.
Since the initial financing approval, the construction company has returned to LendSpark for additional financing for equipment, a testament to the success of the partnership. Through LendSpark's expert guidance and financial support, the construction company was able to overcome their obstacles and continue to grow their business.
LendSpark's commitment to providing tailored financial solutions to each client has allowed them to make a significant impact on the industry, providing crucial support to businesses of all sizes and sectors.