In a standard construction loan from the bank, they will require that you have a builder that will perform the work. The owner is in no way allowed to manage the work, acting as a builder. The GC (builder) submits an invoice for work completed, the bank shows up and does an inspection. If everything is up to snuff, they cut a check and post the notice of said check on a board at the site. That way all the subs know that a check has been cut. It prevents builders from running with the ball or telling folks they have not been paid yet. And it prevents homeowners from getting a loan and building garbage that will be worth a lot less than the note.
Gone are the days of getting a construction loan and acting as your own builder. The banks rarely play those games anymore.
As for finding a builder that will finance a project for you. You are allowing the builder control of your project and the money to produce it, but your name will be on the note, thus being stuck with the debt at the end. You are an adventurous person. I have never even heard of this idea, let alone any collegues that would work like this.
Of the group of builders across the state that we have relationships with, in that we share financial information and strategy with each other. Most everyone is holding capital tight these days, having lost more than half of the workforce in layoffs, that capital is being used to continue payroll for office and estimating functions to get more work lined up to bring the workers back and start building again. These companies are in the 1.5 to 8.5 million a year in revenue range. We all have showrooms, multiple work teams, multiple divisions and have been in business for more than a decade (at least).
Good luck with your idea though.
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