Commercial Construction Loan in Provo, UT
A commercial construction loan in Provo finances ground-up builds, renovations, and equipment for contractors and developers.
A commercial construction loan in Provo finances ground-up builds, renovations, and equipment for contractors and developers.
Construction financing differs from retail or service-business loans because your revenue arrives in chunks, not steady streams. A commercial construction loan for commercial property must account for draw schedules, lien waivers, and the reality that a four-month project in Orem can tie up half your operating capital before the first progress payment clears.
Banks see risk in job-costing variability and the gap between material purchase and invoice payment. Foothill Lenders brokers construction business loans by matching your project pipeline to lenders who price for construction cycles, not generic small-business models. We work with contractors doing tenant improvements along University Parkway, framers building single-family tracts in Mapleton, and civil crews grading sites near the Provo Airport.
Loan programs
SBA 7(a) loans fund equipment purchases, working capital, and even owner-occupied shop space. A Lindon concrete contractor used 7(a) financing to buy two mixer trucks and cover six weeks of labor before the first county voucher arrived. Repayment stretches over years, smoothing lumpy revenue.
Equipment financing isolates the collateral. If you need a skid-steer, a dump truck, or a tower crane, construction machinery finance ties the loan to the asset, leaving your line of credit open for payroll and materials. Approvals move faster because the lender can inspect and title the equipment.
Working capital lines and invoice factoring bridge the gap. When a Spanish Fork school-district job locks up $80,000 in retention, factoring converts that receivable to cash at a discount. Lines of credit let you buy rebar and pay subs without waiting 60 days for the owner's check.
Foothill Lenders brokers all these options. We're located at 412 W Rivers Edge Dr, Provo, UT 84604, and we know which construction financing companies move quickly and which require two years of tax returns.
We don't lend. We connect. That means we can shop your file to multiple construction loan company sources without you filling out five applications. A broker sees which lender prices best for your bonding capacity, which one waives personal guarantees above a certain revenue threshold, and which one closes in two weeks instead of eight.
Construction small business loans often require job-completion schedules, a schedule of values, and proof of general-liability coverage. We help you organize the packet so underwriters say yes faster. If you're a one-truck operation in Springville or a 40-employee GC in Provo, the process stays the same: we gather your story, match it to the right capital source, and walk the file to funding.
You can reach Foothill Lenders at (801) 880-5047. We serve Provo, Orem, Springville, Vineyard, Lindon, Mapleton, Spanish Fork, and Pleasant Grove.
A framing crew based near Center Street in Provo landed three subdivision contracts in Vineyard but needed to hire four additional carpenters and lease a second nail-gun trailer. The owner had $40,000 in receivables from a Springville apartment project but wouldn't see payment for 45 days. Foothill Lenders brokered an invoice factoring arrangement that advanced 85 percent of the receivable within three days, then arranged a small business construction loan to cover payroll through the first draw cycle. The contractor kept crews working, hit deadlines, and avoided late fees.
Learn more about business loans in Provo or explore SBA 7(a) loans and equipment financing. We also serve contractors throughout our Utah County service areas.
Serving the Provo area
We know which lenders fund which kinds of Provo businesses, and we position your file where it fits.
One local broker, many lenders, and no cost to apply.
Common questions
Talk to a local advisor and get matched to the right program, no obligation.