Chicago (Bridgeport)- Construction Financing for Single Family Home Development

Client : An experienced single family developer focused on near south side of Chicago. Already built and sold most homes in development. 4 lots remaining.

Transaction : Ground-up Construction loan for multiple single family homes on the near south side of Chicago in Bridgeport area. Developer already built and sold most of the homes in the subdivision.

Challenge : Client had 3 homes under contract and needed construction financing to deliver completed homes. Regional bank took 2-3 months to review loan and ultimately denied the financing.

Opportunity : Sherpa Capital Group LLC was able to provide financing within a very short time. Client owned 4 lots free and clear and had obtained the permits to start construction. 3 out of the 4 homes were under contract to end buyers.

Action : Sherpa Capital Group LLC provided a first mortgage construction loan with multiple draws to best accommodate builder.