ProjectPlus Facility
Revolving credit facility for property development.
- A credit limit based on your project costs
- Paying directly from the loan account is convenient and easy
- Save on interest costs, because you only draw what you need
More detail
Money when you need it
With a ProjectPlus revolving credit facility1, you’ll have access to money up to a pre-approved limit and you’ll only pay interest on the money you actually use. Designed especially for property developers, ProjectPlus can help to ensure your project has the finance it needs to move steadily towards the finish line.
Agreed limit that reflects your project costs
The total limit available on your ProjectPlus facility is agreed upfront, and becomes available once all conditions in the facility agreement, including an acceptable cost to complete certification, are met. The minimum credit facility is $1,000,000.
The convenience of an all-in-one loan and transaction account
Because it’s a loan and transaction account rolled into one, ProjectPlus can be used to pay project related suppliers, tradespeople and other creditors. It empowers you to be in control of your finances.
Minimise your interest payments
Unlike a typical property development term loan, where you pay interst on the full amount of the loan whether or not you’ve actually used the money, ProjectPlus makes you better off because you only pay interest on the money you’ve drawn.
Term tied to the timeframe of your development
The lifespan of your ProjectPlus credit facility is generally determined by your project timeline. Total repayment is required on or before facility expiry.
