How much can I borrow, and what will I need to qualify?

Financing is based on your project’s value, expected cash flow and your ability to repay, along with your and your contractor’s experience. You will typically provide project plans, a budget, a timeline and financial documentation.

How does the construction loan process work?

Funds are released in stages as your project progresses rather than all at once. Each stage, or draw, is reviewed before funds are released so financing stays aligned with the work completed.

What will my loan cost?

Your loan costs may include interest, closing costs, and, if applicable, fees for inspections related to future advances of funds. The exact costs will depend on your loan and will be disclosed to you before closing.

What happens when construction is complete?

When your project is complete, we'll review your financing needs and discuss available options. Depending on the loan structure and eligibility requirements, this may include paying off the construction loan, refinancing, or transitioning to longer-term financing.

How can I keep my project on track for approval and funding?

Come prepared with clear project plans, a realistic budget and timeline, contractor details and up-to-date financial documentation, then stay in close contact with our commercial lending team. Working with experienced local bankers who know the market across Rhode Island and eastern Connecticut helps keep draws, inspections and funding moving smoothly.

A man in a blazer walks down a sunlit hallway inside a renovated brick warehouse with tall windows.

Construction Financing

Commercial construction lending backed by local decision-making and nearly 200 years of stability.

Commercial Lending

Build with a local partner

A commercial construction project is a major investment, and the bank behind it matters. As a local mutual bank with nearly 200 years of history, Centreville Bank pairs financial strength with local decision-making, so you work directly with experienced commercial lenders who know the market across Rhode Island and eastern Connecticut. Our commercial lending team finances a wide range of property types and structures each loan around your budget, timeline and long-term goals, guiding you from your first conversation through construction and beyond.