Philadelphia New Construction Loans?

[Justin Epperson]

Hello,

Can anyone refer a commercial lender in the area that finances new construction? I own the land outright, permits are issued and I already poured the foundation. I am looking to finance the erection costs only on a high end duplex in the Northern Liberties section. Univest is not taking on new clients right now, Spring Garden's fees are too close to hard money and the previous lenders I have used have merged or been sold. Thanks....

[Sebastian Bennett]

@Justin Epperson  Spring Garden is a hard money lender...they aren't a bank. If you are saying they are too close to a hard money lender in terms of pricing I beleive what you are saying is they are the cheapest hard money debt you have been able to find :)  Ironically Spring Garden Lending came into existence when Univest acquired VG Bank many years ago. Lending went dowhill and everyone left. No idea why Univest and Spring Garden Lending would even be compared against each other.