Commercial Construction Loan
Ground-up and major renovation financing, drawn as you build.
- Rates from
- 8.75%*
- Typical term
- 12–36 months
- Min amount
- $500K
- Max amount
- No cap
What is a Commercial Construction Loan?
Construction loans fund ground-up development and major renovations, releasing capital in draws as project milestones are hit. They usually carry interest-only payments during construction and convert to (or are refinanced into) permanent financing at completion. Lenders weigh the developer's experience, budget, and pro forma closely.
Best for
- Ground-up development
- Major rehab
- Experienced sponsors
* Rates and terms shown are indicative and vary by lender, borrower, and property. Not a commitment to lend. Subject to credit approval.
Lenders offering Construction
31 lenders in our directory finance this loan type.
Amalgamated Bank
New York commercial bank for commercial real estate
A New York-based commercial bank whose commercial real estate group offers acquisition and repositioning financing, term loans, secured credit lines, and affordable multifamily construction and bridge lending, focused on the NYC metro area.
- Loan size
- Contact for details
- Coverage
- All NYC
Amerasia Bank
Flushing-based commercial bank since 1988
A commercial bank established in 1988 in Flushing, Queens, whose commercial real estate financing covers multi-family, mixed-use, office, retail, industrial, and construction, with branches across Queens.
- Loan size
- Contact for details
- Coverage
- 1 boroughs
Arbor Realty Trust
Multifamily and commercial real estate lender
A New York-headquartered multifamily and commercial real estate lender (NYSE: ABR) offering agency (Fannie Mae, Freddie Mac, FHA) multifamily loans, bridge, and construction financing.
- Loan size
- Contact for details
- Coverage
- All NYC
Bank of Hope
Commercial bank for multicultural communities
A commercial bank (subsidiary of Hope Bancorp) financing purchase and refinance of commercial real estate and construction across multi-family, industrial, office, retail, and mixed-use, plus SBA 7(a) and 504 lending. NYC branches in Manhattan and Flushing.
- Loan size
- Contact for details
- Coverage
- 2 boroughs
Bayport Funding
Direct portfolio bridge lender for real estate investors
A direct portfolio bridge lender for real estate investors, with fix-and-flip, ground-up construction, and development programs. Its funded transactions include Brooklyn, the Bronx, and Queens.
- Loan size
- Contact for details
- Coverage
- 3 boroughs
BridgeInvest
Private bridge lender for commercial real estate
A private lender investing in short-term, senior-secured commercial real estate mortgages through transitional bridge, opportunistic bridge, and development (construction) programs, with New York City and Manhattan transactions.
- Loan size
- Contact for details
- Coverage
- All NYC
Cathay Bank
Chinese-American commercial bank since 1962
A commercial bank founded in 1962 to serve the Chinese-American community, with a commercial real estate and construction program (purchase, refinance, bridge, new construction, mini-permanent) plus SBA 7(a) and 504. Branches in Manhattan, Queens, and Brooklyn.
- Loan size
- Contact for details
- Coverage
- 3 boroughs
ConnectOne Bank
Commercial bank with NYC real estate financing
A commercial bank with New York City branches whose real estate financing covers multifamily, retail, office, industrial, construction, and acquisitions, including large syndications.
- Loan size
- Contact for details
- Coverage
- 2 boroughs
Corporation for Supportive Housing
Nonprofit CDFI for supportive housing
A national nonprofit CDFI focused on supportive housing, offering acquisition, predevelopment, and construction loans to developers creating and preserving affordable and supportive housing, and a partner in the NYC Acquisition Fund.
- Loan size
- Contact for details
- Coverage
- All NYC
East West Bank
Commercial real estate lender with NYC branches
A large commercial bank whose real estate program offers construction, bridge, and mini-permanent financing for commercial and multi-family property — plus SBA lending — with branches in Flushing, Queens, and Manhattan.
- Loan size
- Contact for details
- Coverage
- 2 boroughs
Emerald Creek Capital
Bridge lender for commercial real estate
A bridge lender providing short-term loans secured by real estate nationwide, including New York City. Headquartered in Manhattan, with recent closings in Midtown East and Long Island City.
- Loan size
- Contact for details
- Coverage
- All NYC
Enterprise Community Loan Fund
Nonprofit CDFI for affordable housing
The certified CDFI arm of Enterprise Community Partners and one of the largest nonprofit community development loan funds in the country. Offers predevelopment, acquisition, construction, bridge, and permanent loans, with NYC-specific affordable-housing programs.
- Loan size
- Contact for details
- Coverage
- All NYC
First Central Savings Bank
New York savings bank and SBA lender
A New York savings bank (since 1999) whose commercial real estate lending covers multi-family, mixed-use, warehouse, office, and retail, with construction, bridge, and SBA 7(a) programs and six branches in Queens.
- Loan size
- Contact for details
- Coverage
- 1 boroughs
Greystone
Multifamily and commercial real estate finance
A New York-headquartered commercial real estate finance company specializing in multifamily and healthcare lending, offering agency (Fannie Mae, Freddie Mac, FHA/HUD), CMBS, and bridge financing.
- Loan size
- Contact for details
- Coverage
- All NYC
Hanover Bank
New York community bank for commercial real estate
A New York-chartered community commercial bank (founded 2009) with an investment commercial real estate program — commercial mortgages, multi-family investor mortgages, construction, and bridge loans — and branches in Manhattan, Queens, and Brooklyn.
- Loan size
- Contact for details
- Coverage
- 3 boroughs
Leviticus Fund
Nonprofit CDFI for affordable housing
A regional nonprofit CDFI loan fund that finances affordable and supportive housing and community real estate for nonprofit developers across the NYC region. Offers predevelopment, acquisition, construction, bridge, and permanent loans.
- Loan size
- Contact for details
- Coverage
- All NYC
Lima One Capital
Private lender for real estate investors
A private lender offering fix-and-flip, bridge, new-construction, rental, and multifamily programs. Its New York page states its loans are ideal for investments across New York City's five boroughs.
- Loan size
- Contact for details
- Coverage
- All NYC
Local Initiatives Support Corporation
One of the nation's largest community development CDFIs
One of the largest CDFIs in the nation, financing construction and preservation of multifamily rental housing, mixed-use developments, and community facilities. Its NY program originates acquisition and predevelopment financing via the NYC Acquisition Loan Fund.
- Loan size
- Contact for details
- Coverage
- All NYC
Madison Realty Capital
New York-based commercial real estate debt fund
A New York City-based real estate private credit manager focused on U.S. commercial real estate lending, originating loans directly across the capital stack — acquisition, transitional (bridge), and construction financing.
- Loan size
- Contact for details
- Coverage
- All NYC
Manhattan Bridge Capital
Hard-money lender for New York real estate investors
A publicly traded hard-money lender (NASDAQ: LOAN) to professional real estate investors, offering fix-and-flip, bridge, and small new-construction loans across all five NYC boroughs.
- Loan size
- Contact for details
- Coverage
- All NYC
Metropolitan Commercial Bank
New York City commercial bank
A New York City-based commercial bank originating commercial real estate loans across office, multifamily, mixed-use, and other property types, with acquisition, construction, and renovation programs and an SBA 7(a) program.
- Loan size
- Contact for details
- Coverage
- All NYC
NorthEast Community Bank
Community bank specializing in multifamily and mixed-use
A community bank founded in 1934 specializing in lending to owners and developers of multifamily and mixed-use properties. Offers construction financing, cooperative building loans, and SBA (including 504 real estate) lending across Manhattan, Brooklyn, and the Bronx.
- Loan size
- Contact for details
- Coverage
- 3 boroughs
Northwind Group
Manhattan-based commercial real estate debt fund
A Manhattan-based manager of commercial real estate debt funds that originate first and second position loans in the Greater NYC metro area, with acquisition, construction, value-add, and bridge structures.
- Loan size
- Contact for details
- Coverage
- All NYC
PCB Bank
SBA Preferred Lender with a Queens branch
A California state-chartered commercial bank (founded 2003) whose commercial real estate program finances the purchase or refinance of commercial or multi-family property, with a construction program and SBA 7(a) and 504 lending. Branch in Bayside, Queens.
- Loan size
- Contact for details
- Coverage
- 1 boroughs
Ponce Bank
Bronx-founded bank, CDFI, and SBA lender
A Bronx-founded bank (1960) and certified CDFI and Minority Depository Institution. Offers commercial real estate loans, construction/development loans, and SBA 7(a) and 504 programs, serving the NYC metro area.
- Loan size
- Contact for details
- Coverage
- All NYC
Popular Bank
New York commercial bank and SBA lender
A commercial bank headquartered in New York (a subsidiary of Popular, Inc.) offering real estate lending for multifamily, mixed-use, and commercial property, commercial construction financing, and SBA 7(a) and 504 loans.
- Loan size
- Contact for details
- Coverage
- All NYC
RCN Capital
Nationwide private lender for real estate investors
A private, business-purpose lender offering fix-and-flip, bridge, new-construction, and multifamily (5+ unit) programs. RCN states its loans are for business purposes and that it lends in most states, including New York.
- Loan size
- Contact for details
- Coverage
- All NYC
Royal Business Bank
Asian-community commercial bank and SBA lender
A commercial bank serving predominantly Asian communities (the surviving brand after acquiring First American International Bank), financing multifamily, hotel, office, and retail — purchase, construction, and refinance — plus SBA 7(a) and 504. NYC branches in Brooklyn, Queens, and Manhattan.
- Loan size
- Contact for details
- Coverage
- 3 boroughs
Stormfield Capital
Direct bridge and hard-money lender for investors
An SEC-registered investment adviser and direct bridge lender for residential and commercial real estate investors, with fix-and-flip, bridge, new-construction, and multifamily value-add programs. Investment-purpose only, with funded NYC deals.
- Loan size
- Contact for details
- Coverage
- All NYC
The Community Preservation Corporation
Nonprofit multifamily lender and CDFI
A nonprofit multifamily lender and certified CDFI founded in 1974 in response to NYC housing conditions. Offers multifamily mortgage lending, construction loans, and a range of bridge products.
- Loan size
- Contact for details
- Coverage
- All NYC
Valley National Bank
National bank for commercial real estate lending
A national bank with over 95 years of commercial real estate lending experience, offering permanent, construction-to-permanent, bridge, co-op, and land loans on property types including apartment buildings, mixed-use, retail, and office. It operates branches across New York City.
- Loan size
- Contact for details
- Coverage
- All NYC