Are you tired of waiting for lengthy traditional funding methods to be approved? Prevance is excited to announce that they have just launched their latest new property finance solution, the Executive Premier Funding Solution, targeted at the experienced, successful property developers and businesses in South Africa.
The Executive Premier Funding Solution is a first of its kind in South Africa as it breaks the conventional barriers of short-term loans by enabling much larger facilities – up to R100 million – whereas before Prevance could only offer up to R7 million!
Yes, you read correctly, facilities of up to R100 million are now available to businesses and property developers who meet the standard requirements, the ability to demonstrate a credible repayment exit strategy, and provide first-line mortgage bonds over the readily releasable property. In other words, if you have an excellent track record, a strong balance sheet, and access to your own tangible equity contributions, this is the alternative funding solution you have been looking for!
Whilst the concept of business loans and development finance are not new concepts and are what the foundation of Prevance Capital’s business is built on, it is important to note that, other than traditional banks, there is no bridging finance company in South Africa that offers this kind of facility – that is until now of course!
Traditional funding methods secured through common financial institutions(such as banks) under conventional terms are often lengthy and timewasting processes, with unfavourable results, and many additional hidden costs i.e., administrative fees, initiation fees, etc.
Thus, the magnitude of an alternative funding solution offering such large facilities in the landscape of short-term finance solutions is groundbreaking for South African property developers and businesses. Prevance’s Executive Premier Funding Solution is an alternative and viable short-term funding solution aimed at providing a better overall Rand cost for your facility and giving you the freedom of advancing your project timeously.
Another advantage of choosing Prevance as your preferred alternative funding provider (instead of laborious traditional banking methods) is that their process is quick and simple. From start to the end, you will be in the capable hands of industry experts and know exactly where you stand throughout the entire process. 54 OCT 2021 SA Real Estate Investor Magazine OCT 2021 55 Why not use the Executive Premier Funding Solution to unlock your development? Prevance’s experienced, highly trained, and qualified business executives are waiting to discuss the Executive Premier Funding Solution with you.
The focus of Prevance is to build partnerships and strong business relationships. By talking directly with decision-makers your project or transaction is timeously assessed on merit and viability. Less red tape than traditional funding methods means Prevance has faster processes and decision-making abilities, making the Executive Premier Funding Solution the perfect alternative solution for very successful businesses and property developers with a proven track record, experience, and security to grow their businesses to the next level. Take a look at the core highlights of the future of executive funding solutions for your development or business:
- Approval of facilities up to R100 million.
- More favourable and affordable interest rates.
- Fast turnaround from our vast experienced credit committee.
- Security in the form of unbonded/unencumbered with a 2 to 1 Loan to Value Ratio.
- To apply, you will need to showcase your excellent track record with years of experience in the property development and business industry.
- A strong balance sheet.
- Access to own equity contributions is vital to qualify.
- Preferably loans to be short-term.
- Each project or transaction is assessed on its merits.
- Feasibility and viability of the project to be demonstrated.
- Once approved and in place, rolling facilities can be approved for future phases.
- Property developer council approvals to be in place i.e. approved building plans etc.
- Tangible payback mechanism to be demonstrated.
Prevance understands that their clients’ needs are unique and varied and they are proud to continuously bring new and exciting innovative solutions to their clients. The Executive Premier Funding solution is unique in its offering as it is by far our largest facility on offer to qualifying enterprises and it breaks the mould of traditional short-term property finance solutions. Prevance understands time is money which is why they aim to build relationships and get to know your business so they can ensure that they are offering you the best funding solutions for many years to come. Prevance is serious about you and your business.