Harbor Custom Development Inc. (NASDAQ:HCDI) announced that it has successfully restructured its loan with Bank United.
“We have successfully amended our loan agreement with Bank United providing for full compliance,” Harbor Custom Development CEO Sterling Griffin said in a statement.
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“We are now able to address our current and future pipeline of multi-family projects,” Griffin added.
Lance Brown, Harbor Custom Development’s chief financial officer, also commented, stating: “Completing this process allows us to progress confidently in pursuit of our business objectives and move forward with project lenders and industry partners.”
Harbor Custom Development is involved in all aspects of land development, including acquisition, entitlements, construction, home building, marketing, and managing projects. The company is focused on Western Washington's Puget Sound region, Sacramento in California, Austin in Texas, and Punta Gorda in Florida.
Contact Sean at sean@proactiveinvestors.com