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NHFC Finance :: Finance partner :: General Criteria


Finance Partner - Criteria

All NHFC loans and facilities, offered through its Funding Programs, must eventually and indirectly enable homeownership, rental, and/or improvements of property to the low- and middle-income South African households earning between R1 500 and R15 000 per month.

The NHFC Credit Committee defines the term and conditions and the required qualifying criteria that must be met for the granting of NHFC housing finance / loan facilities.  The qualifying criteria and required supporting documents vary depending on the selected Funding Program option, but broadly, include the following conditions:

 

Qualifying Criteria

Required Submissions:

  Subscribe to the aims of the NHFC in addressing the housing needs of the defined end-beneficiary target market

  Enjoy a sound reputation and be known for their integrity

  Possess appropriate technological and intellectual capacity

  Demonstrate that they have appropriately trained staff in terms of the specific functions they are required to perform

  Conform to 20% capital adequacy requirements
[with the exception of SHIs, which are allocated RCG by the SHR)]

  A detailed Business and Project Plan with details on:

o Company mission, vision & strategic objective(s)

o Type of the legal vehicle

o Description of the project concept, with the following support documents:

Marketing strategy

Funding structure

Pricing of loans

Tenure option (where applicable)

Pricing of the units (where applicable)

  Audited financial statements for the last two years for existing business and projections for start-up entities
[where the financial year ended 3months prior to loan facility application, provision of up-to-date monthly Management Accounts is required]

In all cases, the NHFC will have to be satisfied that the institution is viable in the long-term.  The size of the loan facility will be based on the potential market and the capacity of the institutions to manage growth.

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