Project Loan

Access funds on demand

Many schemes find themselves in situations where “out of the ordinary” events can leave the scheme in a cash flow crunch. This could be anything from a larger than usual legal bill, an excessive municipal bill due to a leaking water pipe or even the uncomfortable transition period between the financial year end and the AGM date, where budgets are formally approved.

Propell provides a REVOLVING credit facility to Bodies Corporate

This entails:

  • Competitive interest rate
  • Immediate access to funding
  • Unlimited withdrawal frequency
  • Minimum monthly repayment
  • No setup, monthly or annual fees
  • Flexible monthly repayment terms
  • Flexible settlement & participation for individual owners
  • No early settlement penalties

Immediate access to funds allows trustees to quickly address a scheme’s pressing needs. By allowing the scheme to access the facility as and when required, ensures that the scheme is prepared for any unwanted events.

The facility is reviewed annually and the Body Corporate is only charged a withdrawal fee, when funds are paid by Propell. As security, Propell takes security cession of the income of a Body Corporate.

No surety is required from any owner or trustee.

Complete the form below to apply, or click here to print a quote for your scheme.

LOAN CALCULATOR

R
R0 - R10000000
%
%
%
%
({prime_rate}+{lending_margin})/12
1+{i}
(1+({raising_fee_percentage}*(1+{vat})))*{loan_amount}
{repayment_term}*12
-{t}
{1i}^{_t}
R {i}*{pv}/(1-{exponent})
Facility type: Revolving, reviewed annually
Charges
1. Interest rate: Prime plus 5.5%
2. Withdrawal Fee 5.7% of the amount withdrawn

ALL FEES AND COSTS ARE QUOTED INCLUSIVE OF VAT

The above is for illustrative purposes and is subject to change.

Disclaimer: Subject to credit approval and risk assessment.

Managing Agent Details:

Document Downloads

Project Loan: Apply

Propell at a glance