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There is no formal approval process for General Contractors, however all
general contractors in a HUD 221(d)(4) loan must be bondable, and must
have adequate working capital based on upon the proposed loan. We can
calculate this or send the calculation for review if your contractor is unsure.

If a GC does not have HUD 221(d)(4) experience, they should have
multifamily experience building projects of a similar size and scope to the
proposed development. Commercial, industrial, self storage, etc..
experience is not a mitigant for multifamily experience.

Greg Hunter Changed status to publish February 3, 2021
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