Financing Solutions
Business-Purpose Real Estate Credit for Housing Development
KIRBI Capital structures financing around the development budget, the collateral, the construction plan, and the identified source of repayment.
Construction Loans
Business-purpose real estate construction financing provided on a draw basis and administered against an approved budget and construction schedule.
- Business-purpose real estate construction financing
- Draw-based funding tied to completed work
- Third-party or in-house inspections prior to funding
- Executed construction contracts
- Approved Schedule of Values
- Lien documentation and conditional/unconditional waivers
- Builder's risk, liability, and required insurance
- Ongoing cost-to-complete analysis
Loan terms, advance rates, and conditions vary by transaction and are subject to underwriting.
Bridge Loans
KIRBI Capital may finance timing gaps between project needs and the release of identified funds, where a defined repayment source has been documented.
- Committed public awards
- Government reimbursement programs
- Grants
- Tax-credit or institutional proceeds
- Pending permanent financing
- Other defined takeout sources
Public awards and program proceeds remain subject to the applicable agency's eligibility, compliance, and reimbursement requirements.
Construction-to-Permanent
For qualifying projects, a portion of the construction loan may be reduced through a public or institutional takeout at completion, while the residual balance converts or refinances into permanent debt supported by stabilized property performance.
- Single underwriting review contemplating both phases
- Takeout documentation reviewed at origination
- Completion, inspection, and compliance conditions
- Conversion subject to appraisal, DSCR, and LTV tests
Permanent Financing
Long-term financing for completed and stabilized rental properties, underwritten at the property level.
- Stabilized net operating income
- Debt service coverage ratio (DSCR)
- Appraisal
- Loan-to-value (LTV)
- Occupancy
- Operating history
- Affordability restrictions
- Regulatory agreements where applicable
All financing is subject to underwriting, credit approval, available capital, documentation, applicable law, and program requirements. Underwriting thresholds are not uniform across transactions.