Cape Town, SA – Sectional title schemes and homeowners associations need access to funding to complete projects such as maintenance, upgrades, repairs and energy-saving solutions. Unfortunately, they are sometimes unable to access the required funds due to several reasons. Propell offers a solution to this challenge by positioning itself as a project loans provider in South Africa.
With help from the team at Propell, many community schemes have been able to complete their projects on time and even increase their property values. The Propel team understands the frustrations faced by many communal property owners and as such, has made a simpler, hassle-free process for obtaining financing with project loans.
Based in the Cape Town area, the Propell team has stated: “Relationships, just like a property, need to be constantly maintained and improved. This is the only way to build trust, which we’ve been doing for over 20 years. Professional and approachable, we speak openly and honestly and welcome the same from our customers. As a business, our value lies in working with our clients to solve their problems and build the trust we strive for every day.”
Propell’s project loan solutions are aimed at sectional title schemes and homeowner associations. Other than project loans, Propel also offers debtor finance solutions.
Propell’s debtor finance product offers community schemes access to reliable and steady cash flow and provides a revolving loan of up to 80% of levy arrears. From there, the community scheme is tracked and the balance on the debtor financing is modified for further increases or decreases in arrear levies. If there is an increase in levy arrears, Propell may advance additional credit of 80% of the increase. On the other hand, if there is a decrease in levy arrears, then the community scheme would pay 80%.
Propell’s website gives a further explanation on their debtor finance product: “By unlocking the cash tied up in arrears, there is no interruption to paying bills or performing maintenance. The revolving line of credit allows community schemes to meet their budgets without requiring owners to cough up more or dip into reserves meant for a rainy day. Debtor Finance is a loan facility to cover the shortfall left by owners who default on their levy obligation. Propell makes an initial advance to the community scheme, equal to 80% of levy arrears at the inception of the agreement.”
When it comes to their Project Loans offering, there is a wide range of benefits. It includes immediate access to loans, community schemes, and body corporates that have the unilateral decision to determine how much to draw as well as flexible repayment terms of up to 5 years. Borrowers are also able to pay interest on what is used and when it is used.
Propell is providing funding solutions in Cape Town, therefore prospects who are interested in project loans that do not require surety or cession of levies, as well as no early settlement fines, can rest assured knowing that Propell has their needs covered.
Visit Propell at 3rd Floor Gihon Building, c/o Bill Bezuidenhout & Sportica Road, Tygervalley, Cape Town, Western Cape 7536 or call 086 133 3435. For more information, send an email to enquiries@propell.co.za or visit their website.
Media Contact
Company Name: Propell
Contact Person: Andre van Schaik
Email: Send Email
Phone: 086 133 3435
Address:3rd Floor Gihon Building, c/o Bill Bezuidenhout & Sportica Road, Tygervalley
City: Cape Town
State: Western Cape
Country: South Africa
Website: https://propell.co.za/
