Often a loan from a major bank may seem the most attractive funding option, particularly for the low rate of interest. However, we often hear about borrowers who have had negative experiences.
A common example is where banks have funded the construction of a property development project however do not extend funding for the residual stock. From a credit perspective, we think that the risks should be comparatively lower with the property completed, demand demonstrated by sell-through and that it is a project the bank is familiar with.
At Gemi, we fund 65% of the value of the residual stock to provide time for borrowers to complete an orderly sale process to maximise returns and/or to release equity to facilitate the borrower’s next development project. Have a project that needs prompt and flexible funding? Please contact us click here
