Construction & Development Financing
Private Construction Loans & Development Financing
Morrison Financial structures construction loans, land and inventory financing for Ontario builders and developers. Direct decisions, flexible structures, and the certainty of close that comes from working with the lender that holds the paper.
At a glance
Ontario construction & development financing
Construction or development facility tailored to your project requirements.
Loan Amount
$1M - $25M
Term
12 - 24 months
Position
First or second mortgage
Geography
Ontario
Our Approach
Structures built around the project. Decisions made in days.
Morrison provides an alternate financing source to the traditional banks. Most of our files come to us where timing, structure, or the specifics of the project benefit from a direct underwriting conversation - and a lender willing to shape the loan around the file.
When timing matters
Closings on a defined schedule.
Acquisition closings, refinance maturities, unit closings on a sell-down schedule, or a take-out date that doesn't move. We move at the pace the project requires.
CondoCorp Term Financing
Files that don't fit a template.
Second-position facilities, syndicated capacity, bridge-to-takeout, partial sell-out scenarios, or capital stacks that combine private and institutional sources in a single facility.
When the file needs direct underwriting
Decisions made by people who know the deal.
Sponsors with track records that don't fit a generic credit box, projects with story angles, and files that benefit from a conversation rather than a checklist.
Process
From submission to funded loan.
A clear four-step path. Morrison handles underwriting, structuring, and closing in-house - the same team that approves the loan is the team that funds it.
01
Initial submission
Project summary, financial model, appraisal (if available), and sponsor background. We review for fit and respond within days, not weeks.
02
Term sheet & structuring
A tailored term sheet with rate, term, advance schedule, security package, and any required collateral charges. Terms are commercial, transparent, and negotiable.
03
Credit & loan approval
Term sheet executed and the file goes to credit. Conditional approval is issued with the conditions required to fund - typically appraisal, environmental, cost consultant where applicable, and standard KYC.
04
Due diligence & funding
Conditions cleared, security documentation registered, and the initial advance funded. Subsequent advances on construction facilities follow the agreed draw schedule against certified work-in-place.
Loan Features
Structured for builders and developers.
Every Morrison construction or development facility is structured around the project - not a generic template. Common features include:
Request a loan proposalProgress draw advances
Funds advanced against certified work-in-place. Holdback compliance and lien-free status verified at each draw.
No construction standby fee
Interest accrues on funds advanced. Undrawn portions of the commitment do not carry a standby fee under our standard construction structure.
Tailored capital structures
Where the loan qualifies, we can combine private and institutional capital in a single facility - giving sponsors access to deeper capacity and more flexible structures than a single source typically allows.
First or second mortgage position
Available in first or second mortgage position, depending on the file and the existing capital stack.
Collateral charge structures
For higher-LTV files we often structure additional security as collateral charges on related assets to make the loan viable.
Ontario-wide availability
We lend across Ontario, with deep experience in the GTA and Southern Ontario markets where most of our deal flow originates.
Bridge, take-out & CMHC pathways
Beyond construction, we structure bridge and take-out financing - including in partnership with CMHC-approved lenders - so the exit is mapped from day one, not negotiated at maturity.
Direct decision-makers
Our underwriting team is also our credit committee. No file disappears into a black box for committee review.
Common Questions
The questions sponsors ask first.
Most of these come up in the first call. If something here doesn't answer your question, the fastest path is usually a direct conversation with one of our underwriters.
It depends on file complexity. Straightforward bridge or inventory files can close in a few weeks. Construction facilities with full diligence – appraisal, environmental, cost consultant – typically take longer. We work to confirm the realistic closing timeline at term sheet stage so there are no surprises.
Not always. Where pre-sales are required, our threshold is generally lower than what a bank would require on the same file. Specific deposit and pre-sale levels are confirmed during credit approval.
Most of our construction and development loans fall between $1M and $25M. On the higher end of the range we may involve syndication partners to provide deeper capacity while keeping the relationship and the loan administration with Morrison.
No. Our construction and development lending is Ontario-only. Our condominium corporation lending business operates across Canada (except Quebec) as a separate product.
Draw requests are reviewed by a third-party project monitor – typically a cost consultant, or an appraiser in certain cases – who certifies work-in-place, holdback compliance, and lien-free status before each advance is released.
YOUR CONTACTS
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“Serving investors and borrowers for nearly four decades.” — est. 1987
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Request
a loan proposal
Tell us about your project and what you need financed. A member of our underwriting team will reach out to discuss structure and next steps - typically within one business day.
