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Commercial Construction Loan: How Reno Tahoe Steel Built for the Future
We love sharing the success stories of our Business Members - especially homegrown companies like Reno Tahoe Steel, a steel and metal fabrication manufacturer that has grown exponentially. What began as a two‑man operation has evolved into a thriving, large‑scale fabrication company creating custom steel and metal features for some of the most extraordinary homes and commercial projects in the region.
Like many growing manufacturers, Reno Tahoe Steel reached a point where their existing space could no longer keep up with demand. Expanding meant making big decisions - how to build a facility designed for their workflow and still protect day‑to‑day cash flow. With guidance from the commercial team at United Federal Credit Union, they found financing solutions that supported both immediate needs and long‑term growth.
Meet Reno Tahoe Steel
Reno Tahoe Steel Cofounders Pieter van Dorp and Kiel Lambdin
Walking through their headquarters in Reno, the workshop is alive with energy - welders sparking, machinery humming, and teams collaborating on precision builds. Framed by the Sierra Nevada mountain range just outside their doors, it’s easy to see how far founders Kiel Lambdin and Pieter van Dorp have come since starting the business in 2017.
Today, Reno Tahoe Steel employs 50 skilled team members, providing specialized jobs and expanding opportunities in the community. Their craftsmanship is behind many custom features - stairs, railings, architectural accents, and kitchen hoods - that define the look of luxury homes throughout nearby Lake Tahoe. Their work is bold, structural, and artful - exactly the kind of elements architects and designers seek when bringing high‑end residential visions to life.
But despite the extraordinary work they produce, most of it remains behind closed doors. With a client roster that includes billionaires and ultra‑private homeowners, non‑disclosure agreements are a standard part of nearly every project. “Most of the projects we work on, we have non‑disclosure agreements, so we can’t take pictures,” Lambdin said. “When we’re working on a billionaire’s home, we usually have to sign NDAs. The really cool trick stuff that you want to show off - you can’t.”
Still, what they can show speaks volumes. Reno Tahoe Steel has built a reputation on exceptional quality, complex custom fabrication, and deep local roots. Their headquarters and shop - financed with support from United Federal Credit Union - stand as a testament to their growth and relationships.
Building Their HQ and Workshop
Pieter van Dorp, Justin Sawri, Kiel Lambdin, Photo: S Photography Co
When Reno Tahoe Steel began to outgrow its original space, founders Kiel and Pieter realized it was time to create a headquarters that could truly support the scale and craftsmanship of their work. They envisioned a headquarters and workshop designed around the way their team builds, fabricates, and collaborates - a place that felt like an extension of their craft. Turning that vision into reality meant utilizing a commercial construction loan. It was a major step, but one that matched the momentum of their growing company.
A commercial construction loan can help businesses finance the cost of building or renovating a facility, with funding aligned to different stages of the project. For Reno Tahoe Steel, this meant designing a headquarters that supported both fabrication and collaboration - without outgrowing it.
“Businesses typically decide to do a commercial construction loan when they’re in a location where they can’t build out, or it doesn’t support where they’re going in the future when it comes to their growth and strategy moving forward,” said Justin Sawri, United Commercial Loan Officer.
“That was the case with Kiel and Pieter and Reno Tahoe Steel. Their previous location wasn’t big enough to support their needs as they continued to grow. They had the opportunity to buy this piece of land where they did the construction loan and were able to build a facility that matched exactly where they were going as far as the space they needed.”
Photo: S Photography Co
Designing a custom building meant finally having a space tailored to the unique rhythm of steel fabrication. High ceilings for crane systems, open floor space for large projects, room for their full sheet‑metal division, and of course, a steel staircase - because no Reno Tahoe Steel building would be complete without putting their own craftsmanship on display.
“They helped us navigate that,” Lambdin said of partnering with United, reflecting on the financing process. Today, the busy, hardworking shop stands as a testament to their growth, and plenty of room to keep building what’s next.
Tip: Set up your commercial construction loan to become a permanent mortgage after the build is completed - take out one loan instead of two
Photo: S Photography Co
Commercial Construction Loan Process
Building or expanding a facility is a major milestone for any business, and understanding the general construction loan process can help business owners feel more confident taking that step. Here’s what the commercial construction loan process looks like for business owners.
How Business Owners Can Prepare to Apply for a Commercial Construction Loan
- Compile detailed project plans, bids, and contractor information to clearly define scope, cost, and timeline.
- Prepare updated business financials, including tax returns, profit and loss statements, and balance sheets (typically 2–3 years plus the current fiscal year).
- Document liquidity sources—cash, pledged equity, or collateral—to support the required down payment.
- Borrowers who lack sufficient history or equity for conventional loans may consider SBA construction financing, which can offer lower equity requirements and more flexible credit terms (owner-occupied properties only).
- Develop a realistic post-construction operating plan with projected revenue, expenses, and lease-up assumptions to demonstrate long-term viability.
How It Works: Commercial Construction Loan Process
- Gather project plans, cost estimates, and financials to assemble a complete loan package.
- Submit your application for lender review of experience, credit strength, and project feasibility.
- The lender orders third-party reports, including an appraisal, environmental review, and construction budget analysis.
- Underwriting assesses repayment capacity, collateral value, project viability, and contingency planning.
- Upon approval, loan documents are executed outlining terms, covenants, and draw requirements.
- Loan proceeds are placed into a controlled construction account for phased disbursements.
- Contractors begin work and submit draw requests with invoices, inspections, and progress reports.
- The lender or construction manager conducts site inspections to verify progress and compliance.
- Funds are released in stages as milestones are achieved.
- After completion, the project receives final inspection and a certificate of occupancy.
- The loan converts to permanent financing, or you refinance or sell based on your exit strategy.
What if a business doesn’t have money for a downpayment for construction?
Construction costs can run from a few hundred thousand dollars into the millions. The higher the number, the higher the down payment, but small businesses have additional options for support. “For businesses where a down payment might be a barrier, there’s an SBA 504 program that offers construction loans. There’s more involved with the SBA program, being tied to the federal government, but it minimizes your down payment to potentially as low as 10%, so they could cut that upfront investment,” Sawri said.
The Importance of Local Expertise and Strong Relationships
Justin Sawri, Pieter van Dorp, Brandi Ward, Kiel Lambdin, Photo: S Photography Co
For Kiel and Pieter, Northern Nevada isn’t just where their business is located - it’s home. Their roots in the region run deep, and the community around them has been part of Reno Tahoe Steel’s growth from the very beginning.
“We’re very close to our people in the community,” Lambdin said, reflecting on the relationships that have shaped both his life and the business. In a region where word‑of‑mouth carries real weight and personal connections still matter, he values being able to pick up the phone, have a genuine conversation, and feel like he’s talking to people who truly understand the area.
“You’re not just a number,” Lambdin said of working with United Federal Credit Union. “It’s like, hey, let’s have a conversation about it. Let’s see if we can make this work. I think that’s really important.”
That mindset extends into how he encourages others in the community to approach their own financial challenges. “Let’s say you’ve got credit that’s not good, you’ve had some challenges,” he said. “Go hit up United and see what they can do and how they can help.”
Whether a business is planning a new build or preparing for its next phase of growth, understanding financing options - and having a partner who knows your business - can make all the difference.
This testimonial reflects one business member’s personal experience and was not compensated. Results may vary. United Federal Credit Union is not affiliated with Reno Tahoe Steel, and this post does not imply endorsement of its products or services.
Insured by NCUA. Equal Opportunity Lender.