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Bridging Loan / End Financing

Bridging Loan / End Financing

A facility to ease your cash flow during the construction period pending receipt of proceeds from end purchasers or their end-financiers.

Benefits


Benefits

  • Enjoy a standby source of funds whenever required with a facility that is continuously available when properly utilised and if the business is operated satisfactorily.
  • The utilisation of a bridging loan is controlled by the Bank, with funds being released progressively against architect certificates of work done.
  • Repayments are generally from the redemption sum payable for each unit sold.

    

How to apply


Required Documents 

  • A certified photocopy of Memorandum & Article of Association, Business Registration, Form D, Form 9, Form 24 & 49. Company and Holding Company profile, Profile of Directors / Main Shareholders and photocopy of each Director's Identity Card.
  • Please include the latest 3 years of Audited Financial Accounts / Statements for Company and Holding Company, a certified true copy of latest management accounts, latest 6 months of Bank Statements from other banks.
  • And don't forget a photocopy of Sales and Purchase Agreement (if applicable), photocopy of land title, cash flow projection (for the specific development to be financed with assumptions), breakdown of the development cost and Gross Development Value (GDV), list of past, current and future projects / development, required information such as project description, awarder, contract period, contract amount (where applicable), valuation report (if available), Feasibility Study and Market Study on the project, photocopy of the land title to be developed and location map (if available), photocopy of all approvals granted pertaining to the project such as building plan, advertising permit, etc (if available).
  • Terms and conditions apply. All applications are subject to the Bank's credit assessment.

    

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