What's top-of-mind for real estate lenders and developers in 2022? What challenges have persisted and what has changed in the last year?
We surveyed both parties to find out and published the results in our 2022 State of Construction Finance Report.
This report takes a closer look at how lenders and developers are addressing and perceiving construction finance in 2022.
- 83% of developers claim that development management software has helped their team gain efficiency and productivity.
- 87% of lenders agreed that construction loan administration software has helped their team gain efficiency and productivity
- 47 hours is the average amount of hours every month that developers spend outside of the standard draw preparing a project report for equity partners or owners
- 14 hours is spent by lenders reporting on construction loans or draws each month
- 100% of lenders felt that human error was a risk to their process