FRONT-END ANALYSIS

Prior to construction, Newbanks will review the borrower's plans and specifications to evaluate the completeness of these important documents.  Construction lenders frequently request an analysis of the contractor's estimated construction costs to determine if available funds are sufficient to complete the proposed project.  We use the costs of comparable projects from our extensive database in this analysis.  Other contract documents, such as Geotechnical Reports, Environmental Reports, the construction contract, schedules, permits, etc., are also reviewed during this process.  If questions or problems arise, we normally contact the borrower, contractor, or their representative for prompt clarification, in order to accommodate the loan closing time frame.