Construction loan is the process whereby a builder or builder-financed project pays a construction company to build the building.
The loan is typically the sole source of financing for the project.
The cost of the project can vary depending on the number of buildings and on the size of the building, the project size and the amount of labour involved.
However, in Ireland, the cost of construction loans are capped at €30,000.
This means that the total cost of a building is capped at a minimum of €3,000 in total, including the cost to buy the building and its associated infrastructure.
In this article, we will examine the different types of construction loan available to a builder-funded project and how it works.