Commercial Bare-Land Loan
AIC can make loans on bare land for commercial or residential use. AIC has made several private-money loans for small subdivisions or partitions. AIC’s 23-month term is helpful when clients need time to complete planning and permitting or partitioning. In this case AIC funded a bare-land loan for the client to pay off an existing balloon payment and provide funds to complete additional planning and engineering. When the permits are approved for this 11-unit condominium project with ground-floor retail, the Borrower will refinance the AIC bare-land loan into a construction loan. Whether you are looking to acquire land to be further developed or refinancing a project already underway, give AIC a call to see how our creative financing can help.