: 0860 987 987
: info@prevance.co.za
| COMPANY PROFILE | WHAT'S BRIDGING FINANCE? | FAQ | CONTACT US | NEWS ARTICLES | |||||||||||||||
|
|
|
|
|
This product was developed to cater for clients who require bridging finance on transactions that are not necessarily directly related to a sale of- or bond over an existing property. There has to be, what is known as a "defined exit strategy",a defined plan, on how the loan would be paid back.
These clients would typically need funds for a longer period of time (maximum 9 months) and have unencumbered collateral available on which a first mortgage bond can be registered in favour of Prevance.
Applying normal lending criteria, banks would often not be able to assist these clients as they may not be able to clearly illustrate the ability of monthly repayments on a bank loan. When we developed this product, we kept this in mind and structured it for the clients’ convenience.
Minimum Requirements:
- Maximum transaction value not to exceed 50% of the property value.
- Valuation of property to be done at clients’ expense.
- Satisfactory exit strategy / repayment mechanism.
- Minimum advance of R500 000 to corporate entities.
- Assessment of Assets and Liabilities of Borrower and/or Sureties.
- Bond registartion costs are for the clients account.
All applications are considered on their own merit and approval is subject to the discretion of our Credit Committee.
 |
| Copyright © 2009 - PREVANCE | Website designed by Rodoyo.com  |