Construction Loan Review

  • FOR CONSTRUCTION AND EQUIPMENT LENDERS

Commercial review of the file your monitor doesn't cover

Most construction loan monitors come from a real estate background. They can validate a schedule of values for steel and drywall. They generally cannot tell you whether a $4M transformer order is priced at market, whether the milestone payment structure exposes you if the manufacturer fails, or whether factory acceptance testing has actually been passed on equipment the borrower is drawing against.

That is the gap Haskins Capital fills — as a specialist overlay alongside your existing monitor, not a replacement for it.

Request a Sample Report
Read the Independence Policy
  • INDEPENDENCE

Flat fee. Always.

Lender engagements are billed at a flat fee per file. There is no contingent compensation, no percentage of reductions, and no savings share of any kind on the lender side of this practice. A reviewer paid a percentage of what he finds has an incentive to find it. That structure has no place in an independent opinion delivered to a credit file.

Numbered list — five items:
  • 01 — Flat fee per file, quoted and agreed in writing before work begins.
  • 02 — No contingent, percentage, or success-based compensation on any lender engagement.
  • 03 — No advocacy. We report findings; the credit decision is yours.
  • 04 — No engagement where we advise the owner, contractor, or a major vendor on the same project.
  • 05 — No owner-side work accepted from a borrower whose loan we are currently reviewing.

Three ways to engage.

While enterprise procurement consulting focuses on ongoing organizational spend and vendor categories, procurement management in project management is a dedicated discipline centered on acquiring products, services, or results needed from outside the project team to meet specific project deliverables. Aligned with the Project Management Institute (PMI) PMBOK framework, project procurement operates within defined budget, schedule, and scope constraints.
Effective project procurement management ensures that external contractors and equipment suppliers deliver on schedule without triggering cost overruns. This discipline follows four distinct, sequential phases:
  • BEFORE CLOSING

Pre-Close Commercial Review

We read the construction or EPC contract, the major equipment purchase orders, and the payment structure, then deliver a risk memo ranked by dollar exposure to the lender. Delivered ahead of credit committee, while it is still useful.
  • DURING CONSTRUCTION

Draw Package Commercial Review

Stored materials verification, milestone trigger validation, retainage compliance, and confirmation that equipment being funded has passed acceptance. Layered on top of your existing field monitor.
  • WHEN A FILE DRIFTS

Second Look on a Troubled Loan

For special assets and workout groups. Where the money went, what was funded against work not in place, and what commercial leverage remains in the contract documents.
All lender engagements are billed at a flat fee per file, quoted in writing before work begins. Nothing is ever quoted verbally. Fee schedule provided with the sample report.

What we review — and what we do not.

This boundary is deliberate. It keeps the work squarely in commercial and contractual analysis and outside the practice of engineering.

IN SCOPE

  • Contract commercial terms, risk allocation, and change management provisions
  • Payment structure, milestone triggers, retainage, and front-loading
  • Stored materials and off-site equipment payment exposure
  • Long-lead equipment pricing, lead-time risk, and supplier failure exposure
  • Change order pricing tested against the schedule of values
  • Vendor and unit pricing benchmarked to market rate data

NOT IN SCOPE

  • Design review, constructability opinion, or engineering certification
  • Budget adequacy opinions requiring a professional engineer's seal
  • Site inspection and field observation of work in place
Where a lender’s report template requires a sealed opinion, that section is performed by a licensed professional engineer under subcontract and identified as such in the report. We do not sign opinions we are not licensed to give.

What We Review

We also advise project owners. Here is why that helps you.

Read the Full Policy

Twenty years on the owner’s side means I know exactly how a draw package gets assembled to look better than the job actually is. That is not a conflict — it is the reason to hire me. What would be a conflict is working both sides of the same project, or taking money from a borrower while reporting on their loan. We do neither, and the rule is published.

Insurance certificates, W-9, conflicts of interest policy, and vendor onboarding documentation available on request.

LENDER INQUIRY

Start with the sample report.

Tell us the institution and the file type. We respond within one business day with a sample report and fee schedule.