All banksRotation position #5
Bank profile
Delta First National
Near capacity — only $750K of headroom. Photo-based inspections make draws fast.
Commitments
$3.20M
Outstanding
$2.45M
Deposits
$480K
Capacity Left
$1.55M
Avg Draw Funding
5.1 days
88% on time
Contacts
Relationship bankerCheryl Boudreaux
UnderwriterKevin Marsh
Construction loan contactCheryl Boudreaux
Draw contactSam Pitre
cboudreaux@deltafirst.com
(985) 555-0173
spitre@deltafirst.com
Terms & Structure
Typical ratePrime + 0.75%
LTC80%
LTV72%
Equity requirement20% cash equity
RecourseFull recourse
Interest reserveInterest paid current, no reserve
Typical closing time24 days
Typical draw turnaround5 days
Process Requirements
InspectionsPhotos + PM certification accepted
AppraisalDesktop appraisal under $600K
Avg inspection time1.9 days
Financial covenants
- Min liquidity $350K
- Max 6 spec homes outstanding
Reporting
Semi-annual financialsAnnual tax returns
Underwriting Requirements
10 items · vault coverage
Company P&L
Company Balance Sheet
Personal Financial StatementExpiring Soon
Entity Documents
Builder License
Insurance CertificateExpiring Soon
Project Budget
Plans
Construction Schedule
Sources & Uses
Active Loans
3 projects · 9 historical
Recent Communication
- Cheryl BoudreauxJul 31
Flagged we are at 6 spec homes — house limit.
Attachments
Delta First Draw Checklist.pdfMar 2