Bridging Finance Facility
TUHF’s Bridging Finance covers short term loans up to 6 months to enable entrepreneurs to cover temporary needs, where a quick decision making is required when purchasing inner city property. Bridging finance may be required for:
- Rates Clearance Certificates
- Balance of purchase price (early profit release) to buyers and sellers – for example property auctions or where funds are required before registration of transfer
- Profit from sale of property
- VAT refunds
- Related transfer transaction costs (e.g. transfer duty)
Our bridging finance is competitively priced and, depending on the requirements of the particular problem, quickly available. Cost-to-client is based on the level of security available with the highest price being for unsecured loans.
Inthuthuko Fund (IEF)
Together with the Gauteng Partnership Fund, TUHF has set up the Intuthuko Equity Fund. By contributing to the deposit of own equity requirements necessary for a loan approval, the fund assists previously disadvantaged South Africans (in certain occupations and income groups) who wish to enter the rental housing industry.
The Intuthuko Equity Fund supports previously disadvantaged individuals who have never owned investment property before by contributing to the deposit or equity requirements necessary for a loan approval. TUHF does not provide 100% finance. The fund still requires interested entrepreneurs to contribute of their own earnest money towards the transaction. The fund is aimed at caretakers, property managers, artisans in the construction industry, police, fire men and women, and nurses as well as other individuals who live or work in the inner city. This equity fund is subject to senior debt finance from TUHF Limited for the purchase of inner city residential rental property.
Characteristics of an Intuthuko entrepreneur:
- Mature and have entrepreneurial passion
- Prepared to contribute their own hard earned money
- Hard working and problem solving
- Know the inner city and the neighbourhood in which they plan to buy
- Determined to make a better life for themselves
- Proud to own a clean and well-run building
For more information, contact Investment Division on: 011 290 6690.
Or alternatively contact:
12th Floor, West Wing
25 Ameshoff Street
Tel: 010 595 9000