While the lender underwrites the construction loan, unless a Contractor Evaluation is performed, no one is underwriting one of the most important individuals of the construction process – the general contractor! Partner provides Contractor Evaluations which are in-depth reviews of the qualifications and capabilities of the General Contractor to complete the project.
A Contractor Evaluation provides a review of the following items:
- Financial Statements
- Past company experience, including typical work, largest projects completed and business volume
- Personnel, including employees, subs and suppliers
- Equipment and procedures, including software and methods used to estimate and monitor costs
- Work in progress
- Information on their safety program
- Appropriate licenses
- Plans for future growth
