Secondary financing New Construction - Atlanta Ga

[John Nizer]

I started a new construction project several months ago in Atlanta, GA. The project has a great ROI and construction is underway. There is already a loan on the project from a hard money lender for the purchase & construction of a new duplex (2 buildings). There have been some incidental cost that have come up on the project that I am estimating to be $100K to $120K. I was wondering if there is a lender that would do a short term loan for the incidental cost until the units sell. The summary of the deal is:

- Building Purchase price (tear down) $200K

- Construction loan $800K

- ARV $2,000,000 ($1M per building)

Is there a lender that would make a small loan on the project for $120K given there is already a loan in place? Project should complete and sell in 3 to 5 months.

Thanks