Cashflow for independent property developers can sometimes be the source of sleepless nights and headaches.
It could be that a single dwelling project may be progressing nicely when suddenly it needs to be completed sooner rather than later. In order to get the work done quickly means bringing in additional contractors and without a buyer lined up it may be months before there is any return on investment.
Or it may simply be that an opportunity has arisen to purchase another development before completion of an existing project.
To bridge funding gaps in situations like these, there are a number of options available however, historically loans of this nature have only been able to fund 50 to 55% of the required amount.
At NGI Finance we recognise that it can be difficult for smaller independent developers to have the funds available required to initiate or complete certain projects, so we are pleased to be able offer up to an outstanding 80% of the loan to cost value of the project. These loans can be scheduled over 1 or 2 years and have no exit fees.
This means that developers only need to find 20% of the costs for the project, freeing up vital cashflow.
With loans ranging from £500k to £7.5m, there is no better time to talk to us here at NGI and see how we can help you move your business forward.