Supplemental Financing

Targeted credit for specific project needs and stages

While a standard construction loan covers building execution, it does not fund pre-permit outlays, the developer’s required equity, or unsold inventory at completion. Ruby Finance, the debt division of Ruby Capital, provides targeted credit at each of these points, preserving developer liquidity across the broader business.

Pre-Permit Financing

Capital to cover expenses before a building permit is issued, typically for urban renewal projects. Secured by a pledge of surplus proceeds from the developer’s other active projects, contractual liens, company guarantees, and owner guarantees.

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Loans Secured by Real Estate

Equity completion

Credit that covers part of the developer’s equity requirement, freeing the developer’s own capital for other projects and improving return on equity. The loan sits behind the construction loan and is secured by a second mortgage on the land. It is repaid as the project progresses, once the senior lender releases surplus proceeds.

Take-out loans

Credit that frees capital from active projects prior to senior lender surplus release. Take-out loans are subject to a project assessment and the senior lender’s approval. They are structured with flexible repayment terms.

Inventory loans

Credit for a developer who holds completed units but would rather sell later, when prices in the area are expected to rise. Inventory loans are provided at project completion, once the units are ready for occupancy and the construction loan has ended.

Bridge loans

Credit to cover changing needs, available to developers and purchase groups at any stage of the project, from land acquisition through planning and entitlement to the later stages. Bridge loans are secured by a first mortgage.