Consumer and Trade Finance Solutions for Modular and Pre-Fab Related Products
Up until recently, financial institutions were reluctant to fund using traditional mortgage methods when funding Modular and Pre-Fab construction.
Underscoring the challenges faced by homeowners and builders was the complex issues around security while products were being built in a factory.
Financing of prefab for homeowners was further complicated by the fact that prefab necessarily straddles the manufacturing and housing industries. Financing traditional house builds relies on the gradual release of funds as milestones are reached, such as the pouring of a concrete slab, the erection of the frame and full completion. In contrast, the only on-site work in prefab construction is installation which means the builder or manufacturer needs funding upfront. Adding to the complexity is the variation in state building laws with respect to maximum deposits and the scope and nature of progress payments.
Things have now changed! New finance options are available where security can now be obtained before the product is delivered, removing much of the uncertainty for buyers and builders partnering on a build. Discover the new ways on offer…
Our Authorised and Accredited Service Providers can assist throughout the North American and Asia Pacific regions.
Secured, Unsecured or Low Documentation Facilities.
Engineering, Procurement and Construction Contracts (EPC)
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