Over and above routine maintenance, bodies corporate of sectional titles and homeowners association need to undertake capital-intensive projects like painting, installation of water and electricity meters, laying of fiber optic networks or security upgrades. These projects should ideally be funded from cash reserves. But in reality, owners struggle with costly levies and insufficient reserves that often result in delays to urgent maintenance and decreasing property values.
The better way to fund capital-intensive projects and routine maintenance.
Propell's Project Loan is the solution: Available at competitive interest rates, providing bodies corporate and homeowners association with the funding needed for maintenance and capital-intensive overdue projects. The repayment terms of these loans match the useful life of improvements, meaning owners pay only for the portion of the improvements that they utilize. The project loan is a revolving facility, so funds can be withdrawn when needed and there is no penalty for early settlement, as costs are only incurred when the facility is used.