Development capital for commercial real estate projects in South Carolina.
Commercial property developers in the Myrtle Beach metropolitan area operate in one of the most dynamic real estate markets on the East Coast, where opportunities for retail centers, office buildings, hospitality projects, and mixed-use developments continue to expand alongside the region's population and tourism growth. Our hard money development loans provide the substantial capital required to transform raw land and underutilized properties into income-producing commercial assets that serve the growing Grand Strand community. Traditional construction lenders impose rigid requirements, extensive pre-leasing mandates, and lengthy approval processes that can delay projects for months and cause developers to miss critical market windows. Our development financing eliminates these obstacles, offering experienced commercial developers the speed and flexibility needed to execute their vision. From ground-up construction of office buildings along Highway 17 to redeveloping dated retail centers into modern mixed-use properties, we provide acquisition, development, and construction funding that aligns with your project timeline. Our underwriting team includes commercial real estate professionals who understand market dynamics, development feasibility, and the unique characteristics of Myrtle Beach's business environment.
Our commercial development loans support a comprehensive range of project types throughout the Myrtle Beach market and surrounding Horry County region. Retail developers utilize our financing to acquire land, construct shopping centers, redevelop existing retail properties, and complete tenant build-outs for national retailers entering the market. Office building developers depend on our loans for medical office construction, professional office parks, and corporate headquarters facilities serving the growing business community. Hospitality developers leverage our financing for hotel acquisitions, motel renovations, restaurant developments, and entertainment venues that capitalize on the region's tourism economy.
Mixed-use developers access capital for projects combining retail, office, and residential components in walkable developments that meet modern market demands. Industrial developers utilize our loans for warehouse construction, distribution centers, and light manufacturing facilities serving the regional economy. Self-storage developers finance facility construction in high-growth areas where demand exceeds supply. Healthcare developers access funding for medical office buildings, outpatient surgery centers, and specialty care facilities. Additionally, developers pursuing adaptive reuse projects convert obsolete properties such as department stores, malls, and industrial buildings into modern commercial spaces. Each development loan is structured with milestone-based draw schedules that release funds as construction progresses, interest-only payment options during the development period, and flexible terms that accommodate the time required to achieve stabilization and permanent financing.
Commercial property developers in Myrtle Beach encounter significant financing obstacles that impede project execution and profitability. Traditional development lenders require substantial pre-leasing commitments, often demanding 50-70% of space be leased before construction begins, which is frequently impossible in emerging submarkets or for innovative project concepts. Construction loan approvals from banks can take 90-120 days, causing developers to miss land acquisition opportunities and favorable contractor bidding windows. The tourism-dependent economy creates unique leasing challenges, as many retail and hospitality tenants have seasonal business models that traditional lenders view as risky despite strong overall market demand. Environmental concerns including flood zones, wetlands, and coastal construction requirements add complexity that conventional lenders struggle to underwrite. Developer guarantor requirements often exceed the personal financial capacity of otherwise qualified development entities. Additionally, the need to secure multiple capital sources for land acquisition, soft costs, and construction creates coordination challenges that delay project starts and increase overall costs.
Our commercial development lending approach emphasizes project feasibility, developer experience, and market potential over rigid pre-leasing requirements. We evaluate development loans based on the strength of the development team, project location and visibility, market demand analysis, and realistic financial projections rather than requiring extensive lease commitments upfront. Our underwriting process includes thorough due diligence on zoning, entitlements, environmental considerations, and construction budgets while maintaining the speed developers need to capitalize on opportunities. We structure loans with appropriate loan-to-cost ratios that protect all parties while providing adequate capital for successful project completion. Our draw administration team works closely with developers and their contractors to verify progress and release funds efficiently. We maintain relationships with permanent lenders and can assist developers in securing takeout financing once projects reach stabilization.
We provide commercial development financing throughout the Grand Strand growth corridor, including Myrtle Beach, North Myrtle Beach, Conway, Socastee, Carolina Forest, Little River, and strategic development sites throughout Horry County.
Commercial development loans typically offer loan-to-cost ratios of 65-75% of total project costs including land acquisition, soft costs, hard costs, and interest reserves. Specific ratios depend on project type, location, developer experience, and overall deal structure. Experienced developers with strong track records may qualify for higher leverage on well-conceived projects.
While pre-leasing strengthens loan applications, we do not impose rigid pre-leasing requirements like traditional construction lenders. We evaluate each project based on market demand, location strength, developer experience, and realistic lease-up projections. Some level of tenant interest or pre-commitment is beneficial but not always required for approval.
Our commercial development loan approvals typically complete within 2-3 weeks of receiving complete documentation, compared to 2-3 months for traditional construction lenders. This expedited timeline allows developers to secure land, begin construction, and capture market opportunities before competitors can finalize their financing.
We finance retail centers, office buildings, mixed-use developments, hospitality projects, industrial facilities, self-storage facilities, medical office buildings, and specialty commercial properties. Both ground-up construction and substantial redevelopment projects qualify for our hard money development financing.
Yes, we maintain relationships with permanent lenders including banks, life insurance companies, and CMBS providers who offer takeout financing for stabilized commercial properties. We work with developers throughout the construction period to prepare for permanent financing and can facilitate introductions to appropriate long-term capital sources.
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