The earlier that we are brought into the process, the more value we can bring to the table. Regardless of how far along a project is, we can always deliver valuable advice and leadership. With a high quality project management team on board, potential problems can be identified and averted, such as work scope definition, budget allocation, building material selection and work schedule coordination.
SCGWest involves you and your team every step of the way. Weekly conference calls, status reports, task items, document collection and detailed close out packets.
You can terminate at any contract milestone or phase completion
Our Integrated Project Delivery Contract is structured in multiple phases and can be structured to be executed at milestones throughout the process.
Some Franchisors have already completed program standardization and are capable of creating construction documents internally and have a full construction management staff (typically companies with 500+ locations). If this is the case, we are still able to add value and complement their processes. We can offer a tailored version of our turn key project approach if necessary.
We have a fully assembled team that takes care of architecture, construction, and project construction management team on board at SCGWest.
While the eligibility criteria may entirely depend on the lender's discretion regarding specific requirements, there are certain standard criteria followed by lenders (650+). For instance, the credit score requirements are generally the same among all lenders. Another non-negotiable aspect is the collateral required for the loan. The lean is of utmost importance and is the security that protects the interest of the lender. Hence, lenders asses the property's value, both in terms of the present value and the projected future value. The borrower/property's income - generating ability is taking into consideration, as that will ensure that the borrower is in a position to clear the debt as per agreed terms.
No. Bridge loans are short term loans with the maximum period typically capped at 18 months. Most investors plan to repay the loan in a shorter period and never plan to extend a bridge loan.
Refinancing is a possible way of meeting the payment schedule of bridge loans. Due to the short tenure of bridge loans and the relatively higher interest rates, the best way to exit a bridge loan is the availing refinancing. However, most investors and developers look at bridge loans only when options are at hand to repay the bridge loans before the end of tenure. Refinancing can be considerd when the fund inflow is not on expected timelines.
It typically takes anywhere between three to five weeks to disburse the bridge loan amount from applying for one. This depends on the size of the location and the various parameters associated with the loan.
Borrowers don't need to show proof of income for commercial bridge loans. However, it would help prove that the borrower has a credible source of funds for repaying the loan amount. The mandatory requirement is a clear exit strategy - a plan that shows how the amount will be refunded. Lenders extend bridge loans only when there is a clear plan of repayment.
The ballpark for costs involved in providing bridge loans includes origination fees between 1 to 6 percent, with interest rates typically between 6 to 10 percent. The amortization is interest repayment only until full repayment, closing costs between 2 to 4 percent of the loan amount.
A build to suit lease, in simplest terms, is an agreement between a landlord/developer to build a commercial building that meets specific tenant requirements. The build to suit process entails all the steps necessary to select, acquire, finance, and lease a property on which the landlord/developer constructs a custom building for the tenant. Generally, the landlord/developer owns the land and the building built on that property or will acquire land designated by the tenant. The tenant will in turn lease the to-be-constructed building from the landlord/developer.