Prevance can provide property developers with a construction development loan/facility to kick start, construct and complete a small to medium size development project.
The developer should have a proven track record. If all the approvals have been received and positive pre-sales have been achieved, the loan may attract a more favorable interest rate.
Funding is granted up to approx R6m per development.
Security in the form of a first mortgage bond of a property with twice the value is required.
The developer should have invested his own funds into the development. Each development finance facility application is assessed on it’s own merits.
As each development is unique, so we try think out the box as to how to make the deal work.
A key element is the commercial viability of the project.