The reason why is because the vast majority of developers don't have enough equity or skin in the game. They want the bank to take all of the risk. Would you do that?!?
You should also know that construction loans have to be disbursed in stages; otherwise the developer could just skip town with his wife and the bank's $4 million. The bank will therefore insist on making frequent progress inspections to ensure that building is being constructed according to the plans and specifications. Of all of the various types of commercial lenders - life companies, conduits, commercial banks, credit unions, and hard money lenders - commercial banks are the ones best equipped to issue a number of smaller disbursement checks.
You can apply for a USA commercial loan right now!