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NURCHA is an innovative development finance company providing bridging finance and construction support services (including Performance Guarantees) for Contractors. We support the construction of low-income and affordable housing, infrastructure and community facilities (e.g. schools, clinics, hospitals, etc.). NURCHA provides the cash flow, as well as experienced and qualified support managers to assist the contractor to complete the project successfully – within the agreed upon programme and specifications.
NURCHA is specially geared to provide construction finance for contractors or developers who cannot easily access finance from the conventional financial institutions. Each contractor or developer has unique needs and levels of experience. Some require a more closely managed approach than others, including assistance with project and cash flow management, material procurement etc. NURCHA assesses the needs of each applicant and structures the loan accordingly.
- We place a very high premium on the viability of projects and will only finance projects which in our assessment have proven to be viable and profitable for the Contractor, and which can also afford to pay NURCHA reasonable compensation for risk, finance, support and effort. Fees and interest rates are determined according to the amount of support required by the Contractor, and the relevant risk of the project and the Contractor.
Contractor and Enterprise Development – our programmes are specifically geared to ensure not only the successful completion of a project, but also to enable the growth of the Contracting Enterprise to a more sustainable level. We assist Contractors to get access to material suppliers, properly deal with their monthly income and expenditure, keep track of their construction activities, etc., which improve their credit ratings, marketability and growth.
In order for Employers (Government Departments and Municipalities) to get the best value out of our programmes it is best that NURCHA is consulted early in the procurement process. We can make valuable contributions to assist Employers to design a programme of works in such a way that it provides the best possible opportunity for successful completion, as well as meaningful Contractor and Enterprise Development. We treasure the relationships with Employers and Professional Teams as a key risk management instrument.
- As an additional risk mitigation instrument we open joint bank accounts in the name of the Contractor, with joint electronic signing powers. We require the Employers of the Contractors to sign an Irrevocable Payment Undertaking, agreeing to make all payments due to the Contractor into the nominated joint account. All invoices and payments are, however, in the name of the Contractor.
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