All construction lenders have one thing in common, adversity to risk. How that risk can be mitigated varies by lender and project. General consensus among the financial industry centers around the use of a robust
As a rule, LCS always recommends that a lender conducts a full project review prior to closing often called a Plan and Specification Cost Review (PSCR Report). This review could either be performed by qualified
Construction lending is inherently a risky business, even in times of stability and prosperity. During the COVID-19 pandemic, general contractors defaulted at an annual rate of 11.5 percent which was up from 3 to 5
Construction projects by their very nature can contain a variety of risks during every stage of the project. LCS will explore the main areas of a construction project that are most susceptible to volatility.