Our entry into new project financing was "easy", if you consider selling your family home, car and liquidation of all savings and investment accounts to raise the necessary funds, easy.  This got us over the hump and funded a duplex build.

The next project was four townhouses and that was beyond our reach, so we navigated the perilous world of commercial loan financing.  That was an awakening about the process and fees related to a commercial project.  

Given the recent recession, that avenue of financing appears to have dried up on us. The financing department seemed to think it would be possible to fund a project if we had presales.  This is fairly difficult to provide given that we haven't closed on the land deal, spent six months preparing permit documents or have any idea on when we could deliver a finished home to our customer. 

However, the other avenue of financing that is considerably looser is the personal mortgage department. They appear to be willing to advance loans on property in an individual name rather than a company name.  Even more attractive is the rates offered for individuals is far better than business customers.  We may be able to access project financing as low as 2.1%, this will give us the needed funds to deliver the best possible project at the lowest cost to our customers.