Washington Construction Loan Financing Term Sheet
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FAQ
A term sheet is a nonbinding agreement that shows the basic terms and conditions of an investment. The term sheet serves as a template and basis for more detailed, legally binding documents.
The fees typically range from . 5% to 2% of the principal amount of the loan, so they can be significant for larger construction projects. Typically, a loan origination fee incurred to obtain a construction loan is amortized over the life of the loan.
The interest which is due on project financing loan facilities during the construction period, but which cannot be paid since the Borrower is not generating cash. This interest is generally added to the loan or ?capitalised?. IDC is in effect therefore a cost of construction.
However, you may deduct as a business expense the interest you pay on the loan both before and after the construction period. But you may not deduct the interest you pay during the construction period.
The interest which is due on project financing loan facilities during the construction period, but which cannot be paid since the Borrower is not generating cash. This interest is generally added to the loan or ?capitalised?. IDC is in effect therefore a cost of construction.
The Public Works Board (Board) is authorized by state statute (RCW 43.155). Its purpose is to loan and grant money to counties, cities, and special purpose districts to repair, replace, or create infrastructure.
Multiply the average amount of the loan during the time it takes to complete the building of the asset by the interest rate and the development time in years. Subtract any investment income that pertains to the interim investment of the borrowed funds.
