Rural Construction Funding Sources Can Be Difficult To Locate
It can be considerably more challenging to find and secure construction funding for projects in rural areas.
Insitutional lenders are more limited to local credit unions who also know they don’t have a lot of competition and charge higher rates than what you would expect from an institutional lender.
Most construction financing is private and because private lenders are very regional, there is not always going to be very many or perhaps any available privates even available in certain areas.
This calls for more time to look for financing, stretching out the planning process and perhaps even delaying your projected starting date.
