ABOUT CONSTRUCTION LOANS AND REHAB LOANS

What are "construction loans" and "rehab" loans"

They are short term loans to pay for the construction of commercial buildings. Construction loans and loans for rehab and renovation usually provide for periodic disbursements as each stage of the project is finished. Upon project completion the borrower may obtain a take–out or permanent loan to pay off the construction loan, or may pay off the construction or rehab loan using part of the proceeds from the sale of the completed project.

We will fund up to 80 percent of the renovation costs and disburse the money according to a renovation schedule. As each phase is completed, the work will be inspected and money disbursed.

Gala Resources is a direct lender helping real estate investors, builders and dealers with fast closes on construction loans and loans for commercial property "rehabs" and renovations.