Having decent shelter is what everyone dreams of; shelter provides secure accommodation and is important because it protects individuals and families from the sun, insects, wind, rain, snow, hot temperatures, and enemy observation. Human beings provide themselves with shelter by living in homes; but owning a home is not easy as the challenge is met with lots financial requirements needed for one to own a place called home.
When problems like these arise, some organizations chip in to offer financial assistance. National Urban Reconstruction and Housing Agency (NURCHA) is one such company which weighs in through cooperating with other partners like the open society institute.
NURCHA probates bridging finance to contractors involved in the construction of subsidy and affordable housing, infrastructure and community facilities in South Africa. Through its partnership, the company is a custodian of $15 million secured from the Rand Merchant bank and this money is learnt to local contractors at affordable interest rates. This facility has so far supported 884 loans to builders throughout South Africa for the construction of 300 000 modest homes, more than 100 per day.
How do you qualify?
In order to meet the necessary requirements, applicants should submit the following documents:
- Company registration documents (CIPRO, Tax Clearance, VAT, CIDB, NHBRC Certificate)
- NHBRC project enrolment (if applicable)
- Copies of ID documents of all members/directors and spouses if applicable
- Proof of residence
- Bank account statements and management accounts not older than three months
- Audited financial statement (older than six months)
- Appointment letter and a signed contract
- Cash flow/cost breakdown schedule
- Priced bill quantities
- Contract specifications and approved building plans
- CV of project manager and or/engineer
- Professional Indemnity cover
- ITC consents
- Payment Certificate (if applicable)
NURCHA can be contacted on 0112148700.