Construction financing for contractors and builders in Horry County.
Construction contractors across Horry County operate at the intersection of the Grand Strand's two defining economic forces: a real estate market driven by persistent inbound migration and second-home demand from Northeast and Midwest buyers, and a construction market where skilled-trade capacity consistently runs behind that demand. Licensed GCs, custom home builders, commercial contractors, and specialty trades serving the region have abundant work — but they also face the financing gaps that the construction industry generates structurally: materials purchased before draws are released, subcontractors requiring payment before the general contractor receives client funds, and equipment needs that arise mid-project when capital is already deployed.
Hard Money Lenders of Myrtle Beach provides Grand Strand construction contractors with the working capital, project financing, and equipment funding they need to grow their operations and execute projects without cash-flow constraints. We lend based on contractor experience, project viability, and real estate collateral — not on credit scores and W-2 income documentation that most construction businesses can't produce without distorting their actual financial picture. We understand that a general contractor whose company generated $2.5 million in project revenue last year but shows $180,000 in taxable net income after depreciation, equipment deductions, and subcontractor payments is a different borrower than their tax return suggests.
Residential contractors — general contractors building custom homes, spec homes, and multi-unit projects throughout Horry and Georgetown Counties — use our construction loans to fund lot acquisition and vertical construction in advance of buyer closings or spec sales. In the Carolina Forest, Conway, and Little River growth corridors where new residential development is most active, builders who can move quickly on lot acquisitions and begin construction promptly capture the best positioning in active neighborhoods. Our construction loans fund these projects from lot closing through certificate of occupancy with milestone-based draw schedules.
Commercial contractors executing tenant improvement projects, restaurant build-outs, retail remodels, and medical office construction throughout the Grand Strand use our working capital loans to fund materials and labor in advance of client progress payments. Commercial construction billing cycles — typically monthly progress payments with 30-to-60-day payment terms after invoice — create predictable cash-flow gaps that our short-term working capital loans bridge without requiring contractors to carry high-interest credit card debt or decline work for lack of capital.
Specialty contractors — electrical, plumbing, HVAC, roofing, and concrete — use our equipment financing to purchase vehicles, trailers, tools, and specialized machinery needed to expand service capacity. A roofing contractor who has landed a 30-home hurricane-recovery contract but lacks the crew vehicles and equipment to execute it at scale needs capital that closes in days, not weeks. We provide this financing against equipment or real estate collateral with terms aligned to the contract period.
Land developers using contractor partnerships to execute subdivision development and commercial site work use our combined land-development and construction loan structures to carry projects from raw-land acquisition through lot delivery or building completion. We have financed multiple-phase projects where construction contractor borrowers play the dual role of developer and builder, structuring loans that accommodate both the development-phase and construction-phase capital needs within a single loan relationship.
Construction contractors face a cash-flow timing problem that is structural to the industry: payment terms from general contractors and property owners run 30 to 60 days after invoice, while material suppliers and subcontractors expect payment in 10 to 30 days. This creates a persistent working-capital gap even for contractors with full order books and strong profitability. Traditional commercial banks address this gap inadequately — lines of credit based on personal credit scores don't reflect actual business capacity, and SBA loan processing timelines (months, not days) are incompatible with construction project schedules.
Coastal South Carolina construction adds specific cost and complexity factors that out-of-market lenders don't understand. Wind-zone construction requirements (SC Building Code Coastal Zone provisions), FEMA flood-elevation compliance for below-BFE structures, CAMA permitting for projects within 75 feet of high water, and the technical standards for moisture-resistant construction in a high-humidity salt-air environment all affect scope, cost, and timeline in ways that generic national lenders don't factor into their underwriting. We account for these realities in our construction loan structures rather than treating them as surprises.
The peak-season capacity squeeze — when the Grand Strand's construction market is running at maximum utilization from March through September — affects contractors' ability to take on additional volume even when the work is available. The constraint is often not capital but crew availability. Contractors who can use the winter shoulder season (October through February) to stage equipment purchases, pre-order materials, and establish subcontractor agreements are better positioned for spring ramp-up. Our financing supports this seasonal preparation strategy with terms that match the contract pipeline rather than requiring immediate job starts.
Our construction lending evaluates contractors on their license status, insurance coverage, project pipeline, and collateral position rather than applying rigid credit-score thresholds. South Carolina contractor license verification, general liability and workers' compensation insurance documentation, and a project list of recently completed comparable work are the primary underwriting inputs alongside collateral valuation. We review contractor financials to verify cash-flow adequacy — enough working capital to weather draw-schedule gaps — but we do not apply conventional bank profitability ratios to a business with normal construction-industry expense structures.
Draw schedules are central to our construction loan relationships. We establish milestone-based draw schedules at origination that align fund releases with verified work completion: site preparation, foundation, framing, rough-in systems, exterior enclosure, interior finish, and final completion. We process draw requests within two to three business days of inspection — fast enough to maintain contractor cash-flow without the five-to-seven-day delays that characterize institutional construction lenders.
We provide construction financing for licensed contractors throughout the Grand Strand building market including Myrtle Beach, North Myrtle Beach, Conway, Little River, Socastee, Carolina Forest, Pawleys Island, and surrounding areas in Horry and Georgetown Counties.
Required documentation includes: valid South Carolina contractor license (residential, commercial, or specialty as applicable); general liability and workers' compensation insurance certificates; a completed project list showing relevant comparable work; personal financial statement; business bank statements (12 months); description of the project or working capital need being financed; and collateral documentation for any real estate securing the loan. We review this documentation quickly — typically within 24 to 48 hours — and provide clear feedback on loan eligibility.
Yes — working capital bridge loans for contractors managing billing-cycle timing gaps are a core product in our portfolio. If you have $400,000 in materials and labor costs for a project phase that won't bill for 45 days, a working capital loan secured by your real estate collateral provides the bridge at a cost that's substantially lower than the opportunity cost of declining the work. We structure these loans with terms matching the expected collection timeline and repay from the project payment when received.
Yes, we finance equipment purchases for licensed contractors when the loan is secured by real estate collateral. Equipment-only loans without real estate backing are outside our current program. Common equipment-purchase scenarios include additional crew vehicles for production-scale residential builders, specialized equipment for commercial concrete or structural work, and roofing and siding equipment for contractors handling hurricane-recovery work at scale. Equipment loans can be structured as part of a broader construction or working capital loan or as standalone real-estate-secured financing.
Draw schedules are established at loan origination with specific triggers and percentages for each phase. A typical residential construction draw schedule includes: site prep and foundation (15 to 20 percent); framing complete (20 to 25 percent); rough systems in-wall (electrical, plumbing, HVAC) and exterior dry-in (15 to 20 percent); interior rough systems complete (10 to 15 percent); interior finish and trim (15 to 20 percent); and final completion with certificate of occupancy (10 to 15 percent). Each draw requires an inspection before release. We process approved draws within two to three business days.
Atlantic storm systems — including tropical storms and hurricanes affecting the South Carolina coast — are a recognized construction risk in our lending area, and we build realistic weather-delay provisions into construction loan terms upfront. A named storm that results in a mandatory evacuation order and subsequent construction delay is not treated as a loan default. We require borrowers to carry builder's risk insurance adequate to cover the project value, and we expect prompt notification when weather events materially affect project timelines. Extensions for documented storm delays are processed without penalty.
Get started today and receive multiple competitive loan offers from verified hard money lenders who understand your unique needs.