Bridge loan for
small to medium sized developers
small to medium sized developers
Express Building (EB) Financing
is a short-term bridge loan to bridge the delay between the issuance of NOA / LOG and the bank home loan take-out.
When to use EB Financing?
Use Cases
Built Home
Bridges the bank mortgage disbursement delay to the residential developer
Home to be Built
100% construction financing to residential developers for pre-sold units with preapproved mortgages
EB Financing is an unsecured loan
Express Building Loan Terms
- Amount = 100% of approved construction budget or total amount needed as stated in LOG/NOA
- Loan term = Validity of LOG/NOA
- Interest-only monthly payments, principal is due at maturity
* can be extended a maximum of 60 days provided an extension letter from issuer of LOG/NOA is presented / no prepayment penalty
How it works
- 1Developer submits business documents
- 2Upon approval, Developer submits post-approval requirements
- 3Developer receives funds
Financing solutions for Philippines' housing backlog