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The building you have is usually cheaper than the building you would buy.
Adding twenty feet to the back of a shop costs less than relocating. You keep the address, the customers know where you are, and nothing about the operation stops.
The tradeoff is working through a construction project while running the business inside it.
Plan for the months when you are building and producing at the same time.
Almost every expansion runs slower than the schedule and costs more in lost capacity than owners expect. Revenue dips while the crew is on site, then takes time to climb once the space opens.
We finance the build and the gap. Owners who account for both come out of it far cleaner than those who only borrowed for the construction.
DOWNLOAD OUR READY TO BORROW CHECKLIST
What We Look At
- Contractor bid broken out by line item.
- What the added space does for revenue and when it starts producing.
- Disruption during construction and how you plan to work around it.
- Whether you own the building or lease it.
- Current cash flow against a new payment.
- Equipment that goes into the space.
What We Finance
- Construction and build-out.
- Equipment for the new space.
- Working capital through the construction period.
- Refinance of the existing building, when rolling everything into one loan makes more sense.
Call before you sign with the contractor.
Line up the financing first and the whole project gets looked at as one thing. Reverse the order and you are fitting a loan around commitments you already made.
Ten locations across Northeastern Wisconsin. Find the one nearest you, or call a lender directly.
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