It goes without saying that property development finance is never straightforward. But it becomes easy to get funding solutions with alternative lenders in Australia.
When ti comes to financial landscape, small-scale developers are increasingly opting for alternative finance providers over traditional banks.
Let’s first understand what alternative financing is all about
The process of obtaining funds from a traditional bank involves a lot of paperwork that becomes annoying over time. And the process may result into rejection of the application.
So if you are a small-scale developer with bad credit, alternative financing is the route you can to take to get your project financed. Alternative financing does not involve hefty rules and regulations, usually laid out by financial institutions and regulatory bodies.
So if you are looking for the best development finance solutions, approach an alternative lender immediately.
Advantages of alternative lending are mentioned below:
Less stringent process
Obtaining funds through alternative means is way too easier than that from traditional banks. All you, the developer, need to prove your ability to pay off the debts and produce some essential documents.
Solicit an alternative lender to know the process at length.
Lower interest rate
The alternative lending market is highly competitive, which ultimately drives interest rates down. Further, alternative lenders have access to an extensive network of borrowers that makes them provide financing solutions at lower rates compared to traditional banks.
Easy and fast approval process
As mentioned above, alternative lending process does not involve paperwork as strenuous as what traditional banks have, which makes the process easy to cascade through.
Here is what an alternative lender may provide you:
An alternative lender may provide following benefits:
- Stretched senior construction finance to 75% GRV and 90% of TDC
- Development finance with no pre-sale requirements
- Solutions for offshore developers
- Mezzanine finance funding the equity gap
- Joint Venture & equity funding
- Development management
- Preferred Equity solutions
- Workout solutions for incomplete property developments
- Unsecured corporate facility for property developers
- Credit Enhancement Strategies
So approach a reputed alternative lender to get your development finance approved.