A construction project can be complex. DuTrac Community Credit Union’s experienced business staff are in place to help deal with construction needs; and, we are still there for you after the project is complete. DuTrac is interested in the long-term success of your business!
Funds from a construction loan can be used to cover both hard costs and soft costs associated with your construction project, including:
- Land acquisition
- Building construction or improvements
- Architect fees
Best of all, a construction loan from DuTrac can automatically convert to long-term financing once the construction project is complete. This means you may not need to apply for another mortgage loan. Apart from the considerable convenience this offers, you will have just one loan closing, one set of closing costs, and one lender.
If you have further questions regarding DuTrac’s business construction loans, please contact Jeff Waller, Commercial Lending Manager, by email at jwaller@DuTrac.org or by phone at 563.582.1331 ext. 7256, Travis Phelan, Commercial Lender, by email at tphelan@DuTrac.org or by phone at 563.582.1331, ext. 8518 or Dennis Naranjo, Commercial Lender, by email at dnaranjo@DuTrac.org or by phone at 563.582.1331., ext. 7258.