Real Estate Investor Magazine South Africa February/March 2019 | Page 31

day to day challenges which developers face. Often the biggest frustration for property developers is to obtain the final approval certificates or regulations from government council departments which is of the essence to be able to transfer to end-user buyers and this extends to cash flow issues. As the adage says, the best-laid plans of mice and men often go awry, and for this reason, it’s important to have a solid backup system in place because money worries should be the last thing on any developer’s mind.” Jonker adds, “Our products have been developed through our vast experience in this important sector and we are immensely proud of the services we offer. Our team understands that speed is of the essence when dealing with short term finance solutions and our products have been specifically designed to not only allow developers access to cash in the shortest possible time but also to offer an array of options tailor-made for developers’ needs.” To qualify for Prevance’s short term property finance the developer should: Provide security in the form of a first mortgage bond of a property’s worth ± twice the value of the loan required, which need not to be the land being developed; • Should have invested his own funds into the development; • Demonstrate the viability of the project; • Should have a proven track record; and • Have obtained all relevant zoning regulations/ certificates obtained. As Prevance prides itself in giving a quick answer to all applications and makes the funds available soon after approval, the solution provided by Prevance is specifically for a short-term requirement and should be repaid within a few months. This limits the interest cost. Those who meet the criteria could qualify for as much as R7-million per phase of development. Jonker says, “The beauty of applying for short term property finance through Prevance is that each application is assessed on its own merit by our highly experienced team. There are no finance raising fees – in fact, there are no hidden costs whatsoever. Our wide range of services includes providing end-user finance via our in-house mortgage originator, Prevance Bonds as well as assistance with banks’ pre-valuations,” says Jonker. “Assistance in obtaining zoning rights and other regulation certificates can be provided by the added value service of our professionals with whom Prevance has a relationship and whose credibility is valued. This extends to assistance with a feasibility study of the entire project.” Jonker explains. “We have a proven track record in the short-term property finance field and our products have helped numerous small to medium developers across the country to overcome cash flow issues. Part of the reason for this is that we don’t micromanage the project as long as the funds are utilised by developers to kick-start, continue or complete a project.” “We, like the rest of the country, are excited about the changes in South Africa and are looking forward to a more vibrant economy that will be aided by an increase in development projects,” says Jonker. A digital campaign for every pocket Reach out to potential investors today Contact us now: [email protected] [phone] SOURCE Prevance SA Real Estate Investor Magazine FEBRUARY/MARCH 2019 29