The Small Development Funding Product (under 10 units) is designed to provide funding for projects of between five and nine residential units.
The indicative Small Development Funding Product criteria are as follows:
- Facility size from €1m (to include land purchase (up to 50%) and development funding)
- Gearing of up to 80% (includes site purchase and development funding)
- Margin of between 6% and 9% (over 3-month Euribor)
- A 1% entry and exit fee will be applied subject to a minimum entry fee of €15K and minimum exit fee of €15K
Ideally, the site should have planning permission or be in the process of achieving planning permission.
Projects under this product type (especially those seeking higher gearing) may qualify for admission to the COSME (Competitiveness of Enterprises and SMEs) Loan Guarantee Scheme provided by the EIF (European Investment Fund).
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Any other questions?
If you would like to enquire further about this product, have any further questions or would like to submit an application for funding, then please complete and submit the enquiry form.
Following submission of the form, a member of the HBFI lending team will contact you within two working days to answer any queries that you may have and/or guide you through the application process.
Please also see our FAQ Section for further information.
The criteria set out above are indicative only and subject to change. HBFI will assess each transaction on its own merits and each transaction will be subject to the applicable terms and conditions. If an applicant meets the above mentioned criteria, this does not guarantee credit approval. HBFI reserves the right to make its final decision based on the full application and supporting documentation.