Constructing a new building is an exciting venture but can bring about many dilemmas and potential risks. First of all, you have to decide on the type of structure and then choose the best designer. Construction costs can vary widely and consistently finding reliable contractors is an ongoing issue. Then, of course, the two things that never go away: government and weather. The permitting process can be a headache and Mother Nature has no regard for your schedule.

However, despite the challenges, a newly constructed building will be exactly what your business needs to perform at its best. And that’s a very good thing.

Typically, financing for small business construction involves two loans, one for interim (construction) financing and one for permanent financing. It’s not always easy to find a lender willing to take on these types of loans and even more difficult to find one with experience doing it.

Luckily, the Small Business Lending Department at Ameris Bank fulfills both of these criteria. We understand the benefit of one-stop shopping for both the construction loan and permanent loan. We also understand that business owners have a million other things to worry about, so we will qualify the contractors and monitor and control the project through a third-party Construction Management Company. With all parties having a vested interest in a timely and cost-effective project, you can rest assured our small business construction lending expertise will ensure as smooth of a construction process as possible.

We are even able to structure construction loans in such a way that the small business has no payment obligations until the construction is complete and the building is occupied.

The inherent benefits of an SBA loan also apply to these types of loans. You may get a lower down payment, easier qualifying criteria, and longer payment terms than a conventional bank loan. Working with an SBA Preferred Lender like Ameris Bank will also expedite the process and get you breaking ground faster.

In summary, an SBA construction loan through Ameris Bank:

• Combines both construction and permanent financing for only one loan and one closing
• Gives you less to worry about with professional third-party construction management
• Puts our many years of expertise with this type of loan to work for you
• Allows you to borrow up to $5 million in partially government-backed funds
• Offers a lower down payment, easier qualifying criteria, and longer payment terms

*All loans subject to credit approval.

Reviewed July 2023