LOCATIONS LOG IN MENU Construction Loans From our very inception over 125 years ago, we have been the area’s go-to construction lender of choice. So much so that we’re known as “The Builder’s Bank,” a title we happily embrace. Our sterling reputation has been built through being a responsive, reliable partner for companies and firms in the construction sector. One of the central reasons we are able to deliver on our reputation is that our Credit Committee meets at least twice a week and our Security Committee meets daily for construction loans. This means that our customers get their construction loans approved and closed faster, construction inspections are completed in a more timely manner and construction funds are disbursed more promptly. Additionally, we offer construction loan amounts up to 80% of acquisition cost and 100% of construction cost. And as a client of Needham Bank, you’ll have 24/7 access to your loan officer as well as concierge levels of banking services. Put simply, we offer unprecedented convenience, accessibility, and flexibility to clients. Contact Lawrence Pitman Craig Rafter, Owner, Calumet Construction and Stephanie Maiona, EVP Commercial Real Estate Lending BENEFITS & FEATURES Prompt Site Inspections and Fund Disbursement We know speed and quality matters in your market. Our Credit Committee meets at least twice a week and our Security Committee meets daily, meaning your needs will be met quickly and with great expertise. 24/7 Access to Your Loan Officer We want to build a relationship with you that focuses on mutual success. You’ll have a dedicated loan officer who will get to know you and your project requirements so you'll have the financing you need, when you need it. Finance New Constructions and Renovations Whether you’re building something new or renovating for resale or rental, we can work with you on a financing plan that works for your business. CONSTRUCTION LOAN HIGHLIGHTS Financing of new construction of homes, condominiums, residential developments, and commercial developments for resale or rental Financings of renovations of homes, condominiums, apartment buildings, and multi-family properties for resale or rental Flexible terms and competitive rates Rapid site inspections and funds disbursement Daily construction inspections and funding with no inspection fees for most projects under $2 million Construction loan amounts up to 80% of acquisition cost and 100% of construction cost 24/7 access to dedicated loan officer Builder-to-Buyer and First Time Homebuyer residential mortgage loan products available to end users Consistent loan officer as single point of contact SERVING OUR CLIENTS Daniel Jeannite “I’m constantly looking for new opportunities to build my real estate portfolio. Having Needham Bank and Andy by my side is invaluable to me. I always have someone to call that... Learn more about Daniel Jeannite FAQS What is the minimum down payment on a construction loan? How is financing structured for construction loans? Is there a limit to what I can borrow for a construction loan? KNOWLEDGE CENTER Financing Options for Your Business or Startup Thinking about starting a business but need funds to get your feet off the ground? Consider these eight business financing options from Needham Bank. Learn more about Financing Options for Your Business or Startup RELATED PRODUCTS Commercial Real Estate Loans With a commercial loan portfolio of just under $1 billion, it’s safe to say that Needham Bank is an expert at financing commercial properties. When it’s time to purchase or refinance any type of investment property including office buildings, industrial properties, apartment buildings, or mixed use properties, our experts are here to help. Learn more about Commercial Real Estate Loans Business Loans Our business loans are your financing solution. Partner with an expert who is focused on your success. Learn more about Business Loans Cash Management Take full control over every aspect of your commercial finances with our Cash Management suite of services and account features. Learn more about Cash Management NB Business CDs Make your working capital work harder for you and earn a higher rate of interest than standard savings accounts. Learn more about NB Business CDs HOME LOCATIONS CONTACT US ABOUT CAREERS ACCOUNT SUPPORT & SAFETY PRIVACY POLICY TERMS OF USE MEMBER FDIC EQUAL HOUSING LENDER MEMBER DIF © 2021 All rights reserved. Powered by Getfused