Builders Capital

Builders Capital is a private construction lending platform for residential builders and developers. It says it was founded by operators who had financed their own construction and that it lends against the builder's business and pipeline rather than one project at a time.

Underwriting starts with the company: track record, financial capacity, operating experience and projected pipeline. From that the lender sets an annual exposure limit of up to $350MM, and each eligible project is then reviewed within that approved exposure rather than restarting the financing conversation. Borrowers get online access to loan details and draw requests around the clock.

Four products sit under that structure. AD&C all-in-one loans cover land acquisition, horizontal development and vertical construction in one facility on a 24-month term, with stated advance rates up to 60% on entitled land, up to 75% post lot development and up to 90% as repaired or improved. Ground-up construction loans fund vertical work on build-ready lots for single family, condo, two-to-four unit and townhouse product. Build-to-rent loans combine acquisition and development with vertical construction and bridge aggregation on 24-month terms extendable to 36. Bridge stabilisation loans provide interim financing on completed or nearly completed inventory, excluding land-only deals.

The site reports $17B+ in projects financed, 500+ builders supported, 18,000+ homes built and 15,000+ lots developed, and says the firm has over 15 years in private construction lending. Its corporate HQ is at 1019 39th Ave SE in Puyallup, Washington, with a regional office on East Las Olas in Fort Lauderdale, Florida. Rates and fees are not published, so get the exposure limit, advance rates, term and fee schedule in writing.