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Virginia 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

Founding Partner (Zooomr Car Leasing)
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

Virginia New Construction Loans

A commercial construction loan is a loan type that is utilized in funding the expenses linked to the renovation or construction of a commercial building. The money from a construction loan can be utilized in paying for materials and labor for the building of a new property, the renovations of current property, or the buying and developing land for a commercial project.

How Constructions Loans Work
Construction loans are not like typical loans. Unlike regular loans, construction loans are not received upfront as a lump sum. The borrower collaborates with the lender to come up with a draw schedule. Hence, parts of the loan will be provided as the project meets new milestones. For instance, the initial draw will be used for clearing and developing the land. The second draw will be offered during pouring of the foundation. A third draw will be offered during the framing of the building, and so on.
Each completion of a milestone will see the lender expect confirmation from an inspector verifying that the job is done prior to the release of the next draw. This will progress until the completion of all milestones and the distribution of the full loan. With this loan type, you will incur the interest cost of the loan amount received only.
The structure of the loan allows the borrower to only pay the interest until the full disbursement of the loan. Borrowers can then pay the principle as a single lump sum at the construction project’s end. However, instead of paying the lump sum, the borrower can obtain a commercial mortgage. The property will be the collateral and money received from the commercial mortgage will be utilized in covering the construction loan. With the new mortgage, the lender can make affordable payments over a specific period.

Interest Rates
Commercial construction loans require borrowers to pay an interest rate of between 4 and 12 percent. If you have good credit, you will get a low-interest rate. The lender type will also impact the interest rate you are charged. If you get this loan from a bank, there is a chance you will pay a low-interest rate. However, hard money lenders will charge you more interest.

Taking a construction loan is associated with a number of fees. The type of fees and the amount will vary according to the lender. Some of the fees include fund control fees, documentation fees, guarantee fees, project review fees, and processing fees.

Down Payment
Since a construction loan is a high-risk loan, there is a requirement to make a deposit. Through paying the deposit, you will share the risk with the lender. Usually, the down payment for most of the projects ranges between 10 and 30 percent of the overall project cost. Lenders rarely pay for 100 percent of the project costs.

Types of Construction Loan
SBA/504 Loan Program is one of the most popular construction loans since it has low deposits, better interest rates, and a 600 credit score requirement. A borrower can get up to $5 million from a Certified Development Company that is SBA-approved. The deposit amount can be as low as 10 percent.
The SBA7 (a) Loan Program can be used to buy or build commercial real estate. Borrowers can get as much as $5 million and have a repayment period of up to 25 years. One also requires to have a down payment of between 10 and 20 percent as well as a credit score of over 600.
Business owners can also get a traditional construction loan from a bank. Repayment terms, down payment requirements, and interest rates will depend on the bank. Normally, at least 10 percent down payment is needed, and repayment term can be up to 25 years.

Hard Money Loans

Need funding for your next project?

Complete Our Hard Money Loan Application
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