Venkat Raman
Property developers, builders and businesses in advanced stages of construction can find cash flow not only challenging but also daunting.
As ongoing and new payments become due, shortage of funds can threaten the schedule and worse, put the project in jeopardy.
ASAP Finance Limited can be the perfect answer in such situations. With simplified procedures and systems, the Company can extend short-term loans quickly, subject of course to minimum criteria and compliance standards.
Quick funding solutions
Offering bespoke funding packages for project sizes from $200,000 to $30,000,000, ASAP Finance partners with investors, developers and home builders for both residential and commercial projects.
Client Services Director Parash Sarma said that the Company can do away with several pre-conditions that are normally imposed by banks (pre-sales, registered valuations, fixed price contracts and quantity surveyor/progress valuation reports) and enable clients to get on with their projects uninterrupted.
“Being an asset lender, our team places more emphasis on the value of the project and equity contributed by the client rather than income or servicing calculations. ASAP Finance lends in all the major cities and towns in New Zealand with Auckland, Christchurch, Wellington, Hamilton and Tauranga being the key markets,” he said.
Growing Portfolios
Since its establishment in 2004, the Company has provided more than $2 billion in loans to more than 5000 residential houses and sections, commercial mixed-use buildings, industrial subdivisions, childcare centres and even specialised assets like hotels, motels, farms and vineyards, making it one of the biggest specialist lenders in New Zealand.
The team brings over 50 years of commercial, residential and development finance experience between them and is committed to finding simple and efficient solutions for their clients.
“Our Mantra is to make the process of funding and completing a project for our clients easy, unlike a mainstream lender. Although we cater to a wide range of clients and funding requirements, construction and development finance is our biggest market,” Mr Sarma said.
Mainstream difficulties
ASAP thrives on funding solutions for clients who are often in situations where they are frustrated with the rigmarole of trying to obtain development funding from mainstream lenders.
“Our approach is very different. We believe that a funder is also a consultant on a development project like a planner or architect; therefore, they will take the time to go through the pros and cons of every aspect of a deal in detail rather than relying purely on the numbers or third party reports. As a result, they are often able to find solutions for projects which at first glance might seem difficult,” Mr Sarma said.
What makes ASAP Finance distinct is its ability to fund even larger projects that involve more than $10 million in lending.
Major Projects
Over the years, ASAP Finance has been associated with a number of large and very successful developments across the country such as Flemington, Verdeco Park and Ravenswood in Christchurch; Eton Estate and Teafields in Hamilton and a number of land subdivision projects in Auckland in Albany, Silverdale, Hobsonville, Flat Bush and Takanini.
“So, whether it is a single house build, small subdivision, infill housing or a much larger brownfield or greenfield subdivisions, ASAP Finance probably has a solution for your development needs,” Mr Sarma said.
Strong Values
As a family-owned company, ASAP Finance is driven by a very strong set of core values and ethics. It prides itself on being a fair and transparent lender and is motivated to maintain and enhance its reputation as a premier, specialist lender in New Zealand.
The Company is committed to making a difference in the community and sponsors a number of causes which are aligned with its vision of building a better future that can be shared by all. Among the charities supported by ASAP are the Friends of Fiji Health Foundation, Friends of Fiji Heart Foundation and the Keystone Trust.
For more information about their product and services, please contact Parash Sarma, Client Services Director on 021-864730. Email: parash@asapfinance.co.nz
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Photo Caption:
Parash Sharma
