Yesterday’s SCCG meeting at Lighthouse Bank was well attended. The 20 members filled the room. Everything was set up well in advance, thanks to Jamie Ganly. Members had the opportunity to have lunch – lunch sandwiches were from Zoccoli’s Deli downtown – and meet informally.
Jon Sisk , the Senior VP and Senior Lending Officer gave a presentation on construction financing. He was assisted by Jamie Ganly, the Vice-President for Commercial Real Estate and Construction Lending. They provided a two-page handout for a typical ‘Project Budget & Loan Request’. Jon mapped out the line item details of the construction loan, the borrower’s equity, the time line for the loan, the payment disbursement process and schedule, and other key points.
It was a very helpful and informative talk. It was time well spent. It’s good to know that we have a local bank that specializes in local construction lending. Thank you Lighthouse Bank.
We left one of our new countertop displays made by Robin Cash at the bank. These displays will be distributed to our members with walk-in traffic. One more way to build the guild.
Good job Michael!