These are term loans of specific amounts, for construction purposes. Such loans are for a stated period of time normally exceeding 2 years but not more than 7 years.
Interest is calculated at an agreed rate on the full loan amount or the principal outstanding amount.
How will my business benefit?
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Draw down is at various stages against the production of Architect's certificates, Engineers/Quantity Surveyors certificates or similar documentation.
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Such loans are available to property development companies and building construction companies. Security required is the asset being financed or an alternative asset.
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Repayments of the outstanding loan will not normally commence until the projects are completed.
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A moratorium is agreed depending on the anticipated completion period.
Prospective Customers
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Development companies.
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Property development companies.
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Well established building construction companies.