Commercial Construction Loans

As your business grows, you may find yourself in need of a commercial construction loan.

When that expansion time comes, it may be too expensive for your business to finance. Whether you’ve outgrown your office or need to get your business out of your garage, a commercial construction loan can get your business into the next phase so that it can continue to grow.

A commercial construction loan is a way to get a business line of credit for the purpose of construction or renovation of a commercial building. This line of credit can be used to purchase land, develop land, renovate existing properties, as well as pay for labor and construction materials. Our streamlined construction-to-long-term financing process plus competitive rates will save you time and money while your business is in expansion mode.

Commercial construction loans work a little differently than most other loans. During loan approval, the borrower and commercial lender will set up a draw schedule. Each milestone is part of the draw schedule, for example, the first draw would be for land development. Sequential draws would be pouring the foundation, framing the building, and so on. Inspections are usually required before the next draw is released. Borrowers are only charged interest on the portion of the loan that has been drawn.

Once the project is complete, the full amount on the construction loan becomes due. In order to avoid paying one big lump sum, borrowers can then apply for a commercial mortgage loan with the new property serving as collateral. Funds received from the commercial mortgage will pay off the construction loan, and the borrower will have more affordable payments over a longer period of time.

Commercial Lending Consultation

We are proud to help local businesses with their business needs. We strive to make the process as simple and fast as possible while providing great rates. We will help you determine your optimum financing needs and options.

To help expedite the process, please prepare the following documents:

  • Current business profit and loss statement and a balance sheet.
  • Last two years tax returns, business and personal, on any individual with 20% or more ownership.
  • Personal financial statement on any individual with 20% or more ownership.
  • Two years projections on any business less than two years old.
  • Debt schedule listing all business and personal debts including balances and payments.
  • Articles of incorporation and corporate bylaws for corporations.
  • Articles of organization and operating agreement for LLCs.

Speak with a Goldenwest Business Expert

Have a Goldenwest Business Specialist contact you:

Thank you! We have received your information. Someone will contact you soon.

Call us at:


Visit with us in person:

Find a local Goldenwest branch