by Dan Ketchum
A construction lender may spend its days funding foundations and financing vertical construction, but it’s nothing without its people. With hands-on teams in Washington, Oregon, Idaho, Texas, Florida and Colorado, we’ve been spreading our roots since we first planted them in the Emerald City a decade ago. Since our beginning, Builders Capital has loaned more than $800 million to over 1,400 projects. That’s 1,400-plus personal solutions delivered with a personal touch. Here’s a peek at how we do it (hint: it’s the people).
Laying Down Foundations
In the midst of a record housing downturn, Builders Capital began offering construction loans in Seattle in 2009. Our vision? To fill a niche for real estate investor and builders as the community’s need for private (and flexible) financing expanded, and in doing so, to enrich our community with quality housing. By 2018, we were the West Coast’s fast-growing private residential construction lender.
Of course, construction loans in Washington (and later Oregon) were just the beginning. In the spring of 2018, we continued our service to small-and-medium-size home builders, investors and developers with the opening of our Colorado Springs branch, led by Jack and Rod Mason, who boast 20 years of local real estate experience.
If $800 million in loans sounds like a lot, keep in mind it’s just a start. In 2019, Builders Capital finalized a partnership with a capital partner to fund more than $1 billion worth of future loans.
Our People, Your Team
Whether you visit us in Washington, Oregon, Idaho, Texas, Florida or Colorado, our construction lenders include a wide spectrum of experienced bankers, builders, accountants, realtors and more. This pedigree started with founder Curt Altig, who brought two decades’ worth of experience as a mortgage banking executive to the creation of Builders Capital.
Alongside Curt from Day One was Robert Hadley, who brought the perspective of a third-generation development company — Hadley Properties, LLC, of which he is also president — to the table. The founders team also includes SDC Homes founder Robert Trent, who has been recognized by the Puget Sound Business Journal for establishing one of the 100 fastest-growing private companies in Washington state.
On the founding of Builders Capital and the creation of its amazing teams, Mr. Altig told Human Securities in 2018, “I looked at things that happened unexpectedly with curiosity instead of fear. Honesty, integrity and work ethic: to me, those are values, but they’re also prerequisites for a new hire.”
Investing in Community
Constructing buildings is one thing, but building a community is even more essential. That’s why Mr. Altig sits on the board of the Liberty Road Foundation, a charity focused on mobilizing businesses to serve the human condition in the Redmond community. LRF volunteers about 7,500 man-hours of work, offers over $30,000 in food supplies, provides nearly 3,000 backpacks full of school supplies and serves more than 9,000 meals in a typical year. In our home communities, you’ll also find us hosting “Bowtie” Economist presentations, sponsoring events benefitting local home builders associations and community home parades and attending economy-bolstering events like the Seattle Build Expo every year.
Washington, Oregon, Idaho, Texas, Florida and Colorado are just the beginning – watch this space as we continue to grow.
Dan has been a freelance writer and small business owner since 2009. He’s fortunate enough to have collaborated with the likes of Career Trends, Discover Student Loans, Office Depot, GoBankingRates and more. As a writer, his work has appeared in publications such as USA Today, The Seattle Times, Fortune, Chron.com and Motley Fool, among others.