Contractor Talk - Professional Construction and Remodeling Forum banner
Cancel

Bank Loan question

1715 Views 10 Replies 9 Participants Last post by  WilsonRMDL, 
F
I did a job last year, and the client (a buddy, at least I thought) said that the bank required him to insulate the attic before they would approve any loan. To me that doesn't make any sense. They were trying to get a loan to finance a 2nd story addition.

I can understand how the bank would require permiting information, and/or that the various permits get finalized. But a requirement regarding that the attic get insulated? This makes no sense to a hucklebuck such as myself. Hoping one of the G.C. guys could fill me in on any potential requirement that a bank would want in regards to finalizing a loan for a loan extension.
Save Share
1 - 1 of 11 Posts
B
It seems unusual to say the least. Is your buddy trying to get you to insulate for free? If he were wanting free stuff, I think he would come up with a better story.
I'm not shy about talking to the bank. I usually touch base with them several times during a project. Banks are real touchy about trying to make sure they aren't stuck with a lemon. I feel that when I am in touch with them, they get to know me and feel more confident about the loans.
Save Share
Reply Quote
1 - 1 of 11 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Contractor Talk - Professional Construction and Remodeling Forum
A forum community dedicated to professional construction and remodeling contractors. Come join the discussion about the industry, trades, safety, projects, finishing, tools, machinery, styles, scales, reviews, accessories, classifieds, and more!
Full Forum Listing
Explore Our Forums
General Discussion Tools & Equipment Business Painting & Finish Work Decks & Fencing
Top