Bridging Finance

The prupose of the bridging loan is to assist members for the construction of residential and/or commercial properties.

Terms

• Maximum duration 9 mths
• Extension in excess of 9 mths is to be approved by the Board of Directors
• Interest is to only be paid monthly/weekly for the period
• At the end of the 9th month the total loan is to be paid off in full
• All legal fees are born by the member
• Draw-downs-payments will be disbursed upon presentation of valid receipts
• Member should be in good standing with at least (1) year membership

Maximum value & repayment period

• Maximum amount – $1.2 mil
• 120 mths – 240 mths

Debt service ratio

50%