Chat with us, powered by LiveChat Rhode Island New Construction Loans | Delancey Street

Rhode Island New Construction Loans

We empower entrepreneurs, real estate investors, and businesses of all sizes challenge the status quo. We take risks on the go-getters, and do’ers – who have an opportunity and need a partner.At Delancey Street, we invest in people and their ideas – not abstract concepts like credit scores, or other financial metrics. Tell us about your idea, let’s discuss your opportunity


High LTV

We fund hard money loans up to 80-90% LTV with no issues.



We promise to treat you like a partner


No $ Limit

No limits on what we can do for you.

Business Funding

Our client was a trucking company based out of NY, that needed quick funding. In 24 hours, we arranged $100,000 in funding.

100% Funded!

Residential Refinance

We funded a purchase in California, for $1.2 million with 65% LTV. We helped the developer with with a 11% loan with balloon payment.

100% Funded!

Lawsuit Funding

Client was injured in a car accident and needed a cash advance on the future value of his lawsuit. In 48 hours, our funders wired funds over.

100% Funded!


Hear from people we've helped

Delancey Street makes lending easy. They took a chance on me when no one else would.

Leo kovacz

Delancey Street funded our e-commerce shop and really gave us the chance to grow our business significantly.
Delancey Street makes lending easy. They took a chance on me when no one else would.

Kevin Johns


Industries We Service

Residential Real Estate
Commercial Real Estate

Our team is always available, and ready to help

Our team of industry experts is ready to help with all of your business needs. Whether you’re looking for a reliable hard money lender, looking to go public via a reverse merger, or need private capital for a venture – we can help.

Industry Experts

Our team consists of extremely qualified industry experts

Quick Service

We work diligently, and quickly, to help you

Rhode Island New Construction Loans

A Guide to Commercial Construction Loans in Rhode Island
Growing businesses may need to expand to be successful. There are a number of factors that can make a business owner want to expand. For some business owners, a goal could be constructing their own building so that they don’t have to pay rent, and others may want to renovate their current commercial buildings.

Although expanding a business can be lucrative, it is also costly. A commercial construction project can cost thousands to millions of dollars to complete, and many business owners in Rhode Island do not have the funds to cover a commercial construction project. A commercial construction loan can be an ideal way to cover these expenses. With any kind of financing, it is necessary to understand eligibility requirements and the conditions of the agreement.

What is a Commercial Construction Loan in Rhode Island?
A commercial construction loan can cover the costs of completing your renovation or construction project. You can use the funds to pay for the land for a new building, materials, and labor.

Business owners who want to purchase existing commercial properties can apply for a commercial mortgage. However, commercial construction loans are made for Rhode Island business owners who want to renovate an existing property or construct a new commercial building.

Commercial construction loans differ than other types of commercial loans. With other types of commercial loans, the borrower will be issued the full loan amount in one sum. When the borrower has been given the funds, he or she will make payments to the lender until the balance is paid off. Most of these loans have a repayment period of 10 years.

The funds of a commercial loan will be disbursed throughout the construction or renovation project at certain periods. When you take out a commercial construction loan, you will probably have a meeting with your lender to establish a draw schedule. A draw schedule will determine when each disbursement amount will be issued. For instance, the first draw may be issued after the land is cleared, and the second draw could be when the foundation is poured. After each milestone in the project is finished, a lender may ask an inspector to visit the construction or renovation site to ensure that the work has been completed.

If you take out a Rhode Island commercial construction loan, you will only be required to pay for the interest of the amount that has been disbursed. For instance, if you have a commercial construction loan that is $500,000, but the lender has only issued $100,000 of the total amount, then you will only pay interest on the $100,000. When the construction or renovation project has been completed, then you have the option to pay the remaining principle. For business owners who don’t want to make the full payment of the principle, a commercial mortgage may be an ideal option. A commercial mortgage allows a business owner to make payments on the construction loan with funds from the commercial mortgage. With a commercial mortgage, the commercial property will be used as collateral.

Other Factors to Consider
A commercial construction loan will have interest rates that fall between 4% to 12%. While interest rates will vary based on the lender, business owners with higher credit scores will have lower interest rates.

A down payment may be required for a commercial construction loan. Usually, down payment requirements for a commercial construction loan will be between 10% and 30% of the total cost of the project. To be eligible for a commercial construction loan, business owners will need to have a good credit score with a reasonable debt-to-income ratio.

Hard Money Loans

Need funding for your next project?

Complete Our Hard Money Loan Application
Call Now