What are the requirements for a property development loan?

Property development loans are typically extended to businesses or entities seeking to develop a piece of land for a profit. They are not individual building loans; instead, these loans are used to develop large plots of land. Due to the size of the projects, the loans are also large, and this means they are difficult to qualify for. In order to qualify, the borrower must have a solid financial history and a profitable business model going forward. The business plan, showing expenses and profit projections, will be as important as the financial history of the borrower.