Build Smarter: How New Hampshire Construction Pros Can Maximize Their Banking Partnership

New Hampshire’s construction industry is one of the most significant drivers of the state’s economy, contributing $4 billion to the state’s GDP and supported by more than 5,600 construction establishments statewide. According to a report by New Hampshire Housing, the state needs an estimated 23,670 new housing units just to meet current demand (and nearly 90,000 by 2040), signaling a long runway of opportunity for commercial construction and real estate development professionals across the Granite State.

For commercial construction and real estate development professionals across New Hampshire, growth often means bigger projects, larger teams, and more complex financing structures. Whether you’re considering your next development in the Seacoast region, expanding into a larger facility in Concord, Manchester or Nashua, or investing in equipment to take on more work, your business banker can be a critical partner in helping you prepare and structure financing responsibly.

As you get ready for that growth conversation, here are a few steps that will make the meeting with your banker productive:

1. How much risk are you comfortable taking?

Every development project comes with risk: market cycles, interest rate changes, and construction costs can all impact the bottom line. Be clear on what level of risk you’re comfortable taking, and what collateral you’re willing to bring to the table. For example, if your banker can’t meet your full loan request, are you open to leveraging real estate, equipment, or other assets to bridge the gap?

2. Have you built a buffer for cost increase?

Construction project costs continue to climb, and today’s trade environment is accelerating that trend. According to the Associated General Contractors of America, tariffs helped push nonresidential construction costs up 3.2% in 2025, with the AGC’s chief economist warning that costs are sure to rise further in 2026. Cost overruns and delays are common even in stable markets, so factor in a contingency (typically around 10%) when building your final budget. That cushion not only keeps you prepared, but it also demonstrates that you’re approaching financing with foresight and discipline.

3. Do your financials tell the whole story?

Your banker needs to see the full picture of your company’s financial position. Bring a current profit and loss statement, balance sheet, and personal financial statement listing assets and liabilities. This helps your banker understand not only your existing capacity but also how you’ll handle the financial demands of a new build or property acquisition.

4. Are the right people at the table?

If your controller, CFO, or bookkeeper manages day-to-day financials, invite them to the meeting. Having the right people at the table ensures your banker gets accurate information, and it helps you keep the conversation focused on strategy instead of just the numbers.

5. Are you tapping into all funding sources available?

Growth in construction and development often requires creative financing. Beyond a traditional bank loan, investigate bridge loans to cover short-term gaps, programs from organizations like the New Hampshire Community Loan Fund, the New Hampshire Business Finance Authority (BFA), or NH CDFA tax credits, and in some cases, private equity may be worth exploring as well. Familiarizing yourself with these options shows your banker that you’re proactive in securing the resources needed to get projects off the ground.

Your banking relationship doesn’t end when the loan closes. As your projects evolve across New Hampshire’s growing economy, your banker can continue to provide perspective, introductions, and support that help you build and grow responsibly.