Commercial construction loans can provide the necessary financing for your business to construct a new building, expand your existing facility or simply make some long overdue upgrades. We understand that construction projects are disruptive to your daily operations, that’s why we can structure terms and conditions that will simplify the process.

We do this with a tailored approach to your construction financing needs, which includes:

  • Responsive, hands-on service during the construction process
  • Flexible time frames allowing for construction and leasing periods
  • Timely guidance through the construction draw process
  • Flexibility in conserving your cash flow through the construction period (e.g. interest-only billing on outstanding amounts during construction)
  • Fixed rate options for permanent financing upon completion of construction
  • Mini-permanent option financing available
  • Locally made decisions (headquartered in Southeast Michigan)

Time Period for Construction Loans

One reality of construction and renovation projects is that they can take anywhere from a couple months to a year or more to complete. Clarkston State Bank understands this and allows for flexibility in the time frame of your loan. We work with you and your general contractor to simplify the process by identifying and providing solutions to potential difficulties and delays involved with the construction process.

Timely Processing of Construction Draws

Clarkston State Bank works hand in hand with customers and their contractors to insure that the proper paperwork is being presented to eliminate delays in processing construction loan draw requests. This is critical in maintaining a consistent payment flow to the contractors ensuring that projects are completed on a timely basis.

Flexible Rates and Financing Options

The financing you need during a commercial construction project can be different from your longer term financing needs. During the construction period, we can offer construction loans at lower variable rates, with an end financing commitment window that includes fixed rate options. We also offer mini-permanent (or “Mini Perm”) financing options to bridge the gap between the construction/lease-up periods and permanent financing options. This Mini Perm option is often used to stabilize leasing activity in order to qualify for permanent long term financing needs or to allow for sales activity/absorption.

For more information, please contact our loan department at (248) 922-2700