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Financing
Large Projects: The Australian Export Finance and Insurance Corporation (E.F.I.C.) E.F.I.C. will finance the Australian content of House Factory projects to qualified borrowers for projects of a minimum of EUR $5,000,000. The E.F.I.C. scheme is designed to help governments and developers obtain the financing necessary to get large projects started if capital is tight or costly in their locality.
Examples of projects eligible for E.F.I.C. financing:
1. Government Offices
2. Low Cost Housing
3. Schools, Hospitals, Clinics
4. House Factory Production Facility
5. Private Sector Projects such as employee housing, resort developments, office blocks
The E.F.I.C. scheme will finance 85% of all Australian content including shipping and Australian supplied labor if needed. The loan cannot be used to finance local mortgages.
A 15% deposit is required upon application which is held in Escrow pending approval and is fully refundable. Initial applications are approved in 30 days and final approval takes 90 days. The loan period can be up to 10 years and carries either a fixed rate or a floating L.I.B.O.R. rate. Payments are due every 6 months in arrears. A Bank Guarantee is required from an approved Bank. To optimize the loan conditions, you should order as much Australian content as possible. Ordering a large number of component packages will save considerably on shipping costs. We can charter a ship to deliver 100-150 homes at a time, which will reduce shipping costs 25% to 40%.
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