{"id":38810,"date":"2022-11-18T11:27:50","date_gmt":"2022-11-18T11:27:50","guid":{"rendered":"https:\/\/swoopfunding.com\/za\/?post_type=sectors&#038;p=38810"},"modified":"2026-04-13T09:00:54","modified_gmt":"2026-04-13T09:00:54","slug":"construction-loans-and-finance","status":"publish","type":"sectors","link":"https:\/\/swoopfunding.com\/za\/sectors\/construction-loans-and-finance\/","title":{"rendered":"Construction loans and finance"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"38810\" class=\"elementor elementor-38810\" data-elementor-post-type=\"sectors\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-1917af68 elementor-section-height-min-height elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"1917af68\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4b7d81ec\" data-id=\"4b7d81ec\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-14e48221 elementor-widget elementor-widget-heading\" data-id=\"14e48221\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Construction loans and finance<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7c6ce31e elementor-widget elementor-widget-text-editor\" data-id=\"7c6ce31e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Constructing a new building or re-developing an existing property to sell for a profit, use for your own needs, or rent out for income, can be a successful financial strategy.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-27d56921 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"27d56921\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/southafrica.swoopfunding.com\/get-started?fundingReason=fundingOnboarding&#038;version=v3\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get a quote<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7ed8246c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7ed8246c\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6dfa78d2\" data-id=\"6dfa78d2\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-28458bc elementor-widget elementor-widget-ucaddon_breadcrumbs\" data-id=\"28458bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t <div id=\"breadcrumbs-container\" class=\"center\">\n <nav aria-label=\"breadcrumbs\" class=\"rank-math-breadcrumb\"><p><\/p><\/nav> <\/div>\n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7728b2dd elementor-widget elementor-widget-text-editor\" data-id=\"7728b2dd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>A South African property is almost always in demand. However, building buildings is not cheap. Large upfront costs to cover land, materials and labour will be incurred, and meeting these costs can put a major dent in any business cashflow. Fortunately, there\u2019s a solution to this problem \u2013 meet the construction loan &#8211; a purpose-built financial product that lets you fund the cost of building without demolishing your bank balance.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5af2b4a elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5af2b4a\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-19718179\" data-id=\"19718179\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-7a49c63b elementor-section-content-middle elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7a49c63b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-wider\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-3fb66398\" data-id=\"3fb66398\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1e79f772 elementor-widget__width-inherit elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"1e79f772\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Borrow up to 75% LTV<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-783e196d\" data-id=\"783e196d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-38581e26 elementor-widget__width-inherit elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"38581e26\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Competitive rates<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-6b4931b5\" data-id=\"6b4931b5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4ceeb5e1 elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"4ceeb5e1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Terms up to 24 months<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-25 elementor-inner-column elementor-element elementor-element-3e4af20\" data-id=\"3e4af20\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5da0e486 elementor-align-start elementor-icon-list--layout-traditional elementor-list-item-link-full_width elementor-widget elementor-widget-icon-list\" data-id=\"5da0e486\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-list.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-icon-list-items\">\n\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item\">\n\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fas fa-check\"><\/i>\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text\">Options for all construction loans<\/span>\n\t\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-19677199 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"19677199\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4e762d4c\" data-id=\"4e762d4c\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-52800274 elementor-widget elementor-widget-heading\" data-id=\"52800274\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What is a construction loan?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-24f6bd5d elementor-widget elementor-widget-spacer\" data-id=\"24f6bd5d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3077b585 elementor-widget elementor-widget-text-editor\" data-id=\"3077b585\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Construction loans, (also known as development loans), are a type of <\/span><a href=\"https:\/\/swoopfunding.com\/za\/commercial-mortgages\/bridging-finance\/\"><span style=\"font-weight: 400;\">bridging loan<\/span><\/a><span style=\"font-weight: 400;\"> used to cover the costs of building new homes and commercial premises or re-developing existing residential and commercial properties. Construction loans may also be used to buy a plot of land to build on or\u00a0 purchase an existing property for re-development.\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-640fab6b elementor-widget elementor-widget-spacer\" data-id=\"640fab6b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-56d0b6e4 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"56d0b6e4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/southafrica.swoopfunding.com\/get-started?fundingReason=fundingOnboarding&#038;version=v3\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get a quote<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-559843ed elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"559843ed\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-3802042d\" data-id=\"3802042d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4a08e61a elementor-widget elementor-widget-heading\" data-id=\"4a08e61a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How do construction loans work?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b89c096 elementor-widget elementor-widget-text-editor\" data-id=\"2b89c096\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Constructing or re-developing a property is a capital-intensive task. Large upfront costs to pay for land, planning, construction materials and labour will be incurred. These costs must be met before the property can be re-sold or used to generate income. Additionally, because the property may not exist yet, (it\u2019s a new-build), or it will undergo significant change, (re-development), it is very difficult to secure a traditional residential or <\/span><a href=\"https:\/\/swoopfunding.com\/za\/commercial-mortgages\/\"><span style=\"font-weight: 400;\">commercial mortgage<\/span><\/a><span style=\"font-weight: 400;\"> to pay upfront costs. Instead, builders, businesses, and developers will use a construction loan to cover the project\u2019s initial expenses.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Construction loans are always short-term, usually 12 \u2013 18 months depending on the scope of the project, and are usually repaid when construction is complete and the property is re-sold or re-financed with a mortgage. Where the loan must also cover the initial purchase of the site or plot, the maximum amount that can be loaned is typically between 50%-60% of the purchase price of the property. Sometimes lending of up to 100% of the build costs can also be provided, as long as the total amount requested is within 60-75% of the estimated value of the project when complete.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">Fees, interest rates and the terms and conditions of construction loans are usually agreed on a case-by-case basis, so costs can vary considerably. Funds are usually released to the borrower in stages as the project progresses. In all cases, the lender will take a legal charge over the property as security. <\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-97dcd85 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"97dcd85\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-57d02e1\" data-id=\"57d02e1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-e9abc53 elementor-widget elementor-widget-heading\" data-id=\"e9abc53\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What types of construction loans are available?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-214e0dd elementor-widget elementor-widget-text-editor\" data-id=\"214e0dd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">There are different kinds of construction loan:<\/span><\/p><h3><b>Construction-only loans<\/b><\/h3><p><span style=\"font-weight: 400;\">Suitable for all commercial and residential projects.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">This type of loan only covers the purchase of land or an existing building and the costs to build new or re-develop the existing property. Once the project is complete, the loan must be repaid. This can be done by either selling the property or replacing the construction loan with a traditional commercial or residential mortgage.\u00a0<\/span><\/p><h3><b>Construction-to-permanent loan<\/b><\/h3><p><span style=\"font-weight: 400;\">Suitable for commercial and residential projects, but mainly used for home construction.<\/span><\/p><p><span style=\"font-weight: 400;\">Construction-to-permanent loans provide funds to buy land or an existing property, plus the costs of\u00a0 building new or re-developing the existing premises. Once the project is complete, the loan is converted to a permanent commercial or residential mortgage. This type of financing may cost less than a construction-only loan, as the borrower only incurs one set of fees at the beginning of the project.<\/span><\/p><h3><b>Owner-builder loan<\/b><\/h3><p><span style=\"font-weight: 400;\">Suitable for residential projects.<\/span><\/p><p><span style=\"font-weight: 400;\">Owner-builder loans are for homeowners want to build a custom home themselves and they act as both builder and borrower. The loan can buy land and an existing property, plus cover the costs of construction to build new or re-develop the existing house. Due to the complexity involved with building a home, most lenders will only provide this kind of loan if the borrower is a licensed builder. The loan may be paid back when the project is complete or converted to a traditional residential mortgage.<\/span><\/p><h3><b>Renovation loan<\/b><\/h3><p><span style=\"font-weight: 400;\">Suitable for all commercial and residential projects.<\/span><\/p><p><span style=\"font-weight: 400;\">Businesses and homeowners seeking to upgrade their property can use a renovation loan to cover costs. Small projects can often be paid for with a personal or <\/span><a href=\"https:\/\/swoopfunding.com\/za\/knowledge-hub\/business-credit-card\/\"><span style=\"font-weight: 400;\">business credit card<\/span><\/a><span style=\"font-weight: 400;\"> . Larger renovations could be funded by refinancing an existing commercial or residential mortgage, or combination financing, such as a mix of <\/span><a href=\"https:\/\/swoopfunding.com\/za\/business-loans\/asset-finance\/\"><span style=\"font-weight: 400;\">asset-finance<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/swoopfunding.com\/za\/business-loans\/unsecured-business-loans\/\"><span style=\"font-weight: 400;\">unsecured business loan<\/span><\/a><span style=\"font-weight: 400;\">, and a construction-only loan.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-07aef0e elementor-widget elementor-widget-heading\" data-id=\"07aef0e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What are the advantages of a construction loan?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b7436cf elementor-widget elementor-widget-text-editor\" data-id=\"b7436cf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Construction loans offer several advantages for businesses undertaking building projects:<\/p><ul><li><strong>Flexible financing<\/strong>: Construction loans provide borrowers with <a class=\"waffle-rich-text-link\" href=\"https:\/\/swoopfunding.com\/za\/business-loans\/flexible-finance\/\">flexible financing options<\/a> for the specific needs of their construction project. Borrowers can typically access funds as needed throughout the various stages of construction, which helps manage cash flow.<\/li><li><strong>Interest-only payments<\/strong>: During the construction phase, borrowers typically make interest-only payments on the amount drawn from the loan, rather than paying principal and interest. This can help reduce the financial burden during the construction period.<\/li><li><strong>Control over costs<\/strong>: Construction loans provide borrowers with control over costs by allowing them to draw funds gradually as construction progresses. This helps prevent cost overruns and ensures that funds are allocated efficiently.<\/li><li><strong>Customised terms<\/strong>: Lenders often offer customised terms and repayment schedules for construction loans, taking into account factors such as the project timeline, budget, and borrower&#8217;s financial situation.<\/li><li><strong>Conversion options<\/strong>: Once construction is complete, borrowers may have the option to convert the construction loan into a <a class=\"waffle-rich-text-link\" href=\"https:\/\/swoopfunding.com\/za\/commercial-mortgages\/\">traditional mortgage<\/a> or <a class=\"waffle-rich-text-link\" href=\"https:\/\/swoopfunding.com\/za\/business-loans\/term-loans\/\">long-term financing<\/a> arrangement. This simplifies the transition from construction to permanent financing and eliminates the need to secure separate financing for the completed property.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-537a10c1 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"537a10c1\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4b82274d\" data-id=\"4b82274d\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-203ec42e elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"203ec42e\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-57a36b8a\" data-id=\"57a36b8a\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2677515c elementor-widget elementor-widget-heading\" data-id=\"2677515c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What does a construction loan cover?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<div class=\"elementor-element elementor-element-df6b81f elementor-widget elementor-widget-text-editor\" data-id=\"df6b81f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Construction loans can be used to pay for:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Land<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">An existing property for re-development<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Permits and planning applications<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Construction materials<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Construction labour<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">External services, such as architects and engineers<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b1e372e elementor-align-center elementor-widget elementor-widget-button\" data-id=\"5b1e372e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/southafrica.swoopfunding.com\/get-started?fundingReason=fundingOnboarding&#038;version=v3\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4386295 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"4386295\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-81e22e1\" data-id=\"81e22e1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2af58d0 elementor-widget elementor-widget-heading\" data-id=\"2af58d0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Eligibility requirements for a construction loan<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e10445 elementor-widget elementor-widget-text-editor\" data-id=\"2e10445\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Eligibility requirements vary from lender to lender, but most will ask the borrower for the following:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Credit status<\/strong>: A healthy credit score is beneficial, but it\u2019s not always necessary. Even if you\u2019ve been turned down before, it may be possible to secure the construction loan you need.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Sufficient income\/cashflow<\/strong>: Lenders need to know that you can cover fees and interest payments until the construction loan is repaid by selling the property or re-financing it with a traditional mortgage.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Cash deposit<\/strong>: You must show the lender that you have funds to pay the deposit \u2013 which will be 25% of more of the project cost.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Project plan<\/strong>: Lenders will ask for a detailed proposal supported by documentation. This may include:\u00a0<\/span><ul><li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">The deed for the property<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Comprehensive designs and blueprints of the development<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Realistic budgets<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">A proposal for drawdown of funds, with clear milestones<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"2\"><span style=\"font-weight: 400;\">Construction contracts with approved suppliers<\/span><\/li><\/ul><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\"><strong>Exit strategy<\/strong>: How will you payback the construction loan? If you intend to refinance with a commercial or residential mortgage, lenders may ask for your pre-approval letter.<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5d94fcf elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5d94fcf\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-99d94c0\" data-id=\"99d94c0\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-9c3a3b1 elementor-widget elementor-widget-heading\" data-id=\"9c3a3b1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The application process for a construction loan<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b3cf11 elementor-widget elementor-widget-text-editor\" data-id=\"9b3cf11\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">The application process for a construction loan can be lengthy and will require the borrower to submit a substantial information package. Although most construction loan requests are considered on a case-by-case basis, the basic application process is the same for all projects:<\/span><\/p><ul><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The lender reviews the business plan of the development. This includes the estimated costs and proposal for release of funds, as well as information on the applicant\u2019s financial background and any experience within the building and construction industry.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The lender analyses the information provided and carries out standard credit checks.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If an application is successful at this stage, an agreement in principle is issued.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lender undertakes a site visit to ensure project viability and arranges an independent valuation of the project. Should the results of these investigations be sufficient, a formal loan offer and terms are issued.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Contracts are exchanged, followed by the completion of the loan.<\/span><\/li><li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">First stage payment is released.<\/span><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-0ff4c75 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"0ff4c75\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9e71bf5\" data-id=\"9e71bf5\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6e755c0 elementor-widget elementor-widget-heading\" data-id=\"6e755c0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How to find the right construction loan for your business<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0b1c412 elementor-widget elementor-widget-text-editor\" data-id=\"0b1c412\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Finding the best construction loan for your business and going through the application process can be a lengthy, costly, and time-consuming process. Whereas individual lenders may only have a limited suite of loan options, using a broker such as Swoop can give you access to multiple lenders with just one application. The broker route can also save you time and money, provide the largest choice of loan products, and give you the most competitive rates and fees.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7efbeae elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7efbeae\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-ffb1df0\" data-id=\"ffb1df0\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1be3f87 elementor-widget elementor-widget-heading\" data-id=\"1be3f87\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Get started with Swoop's business funding platform<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-efbd825 elementor-widget elementor-widget-text-editor\" data-id=\"efbd825\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">Constructing a new building or re-developing an existing property can be challenging enough. The last thing you need is a difficult loan application process too. Take the headache out of securing the best construction loan for your business. <a href=\"https:\/\/southafrica.swoopfunding.com\/get-started?fundingReason=fundingOnboarding&amp;version=v3\">Get started with Swoop today<\/a> to start building your next big thing.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-79b4aa8b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"79b4aa8b\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-4b711dd4\" data-id=\"4b711dd4\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-0c804c2 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"0c804c2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-sm\" href=\"https:\/\/southafrica.swoopfunding.com\/get-started?fundingReason=fundingOnboarding&#038;version=v3\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Apply now<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-93bf53e elementor-widget elementor-widget-spacer\" data-id=\"93bf53e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"spacer.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-spacer\">\n\t\t\t<div class=\"elementor-spacer-inner\"><\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-374b05c5 elementor-widget elementor-widget-heading\" data-id=\"374b05c5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Testimonials<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-235f23e3 elementor-widget elementor-widget-ucaddon_testimonials\" data-id=\"235f23e3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_testimonials.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\t\t\t<style type=\"text\/css\">\/* widget:Testimonials *\/\n\n.testimony{\n margin:0;\n}\n.testimony .owl-theme .owl-dots .owl-dot.active span{\n background:#2E9C8E;\n}\n\n.testimony .owl-theme .owl-dots .owl-dot:hover span{\n background:#2E9C8E;\n}\n\n.testimony{\n\t content-visibility:auto;\n\t contain-intrinsic-size:445px;\n}\n .testimony .inner-testimony .read-mores{\n\t margin-left:15px;\n}\n .testimony .inner-testimony .icon{\n\t color:#eee;\n}\n .testimony .inner-testimony .icon-quotation-left{\n\t position:relative;\n\t top:-28px;\n\t left:0;\n}\n .testimony .inner-testimony .icon-quotation-right{\n\t position:relative;\n\t bottom:-28px;\n\t right:-8px;\n}\n .testimony .inner-testimony p{\n\t margin:0;\n\t color:#003e52;\n}\n .testimony .inner-testimony .testimony_description{\n\t padding:40px 0;\n}\n .testimony .inner-testimony .desc_testimony{\n\t font-size:24px;\n}\n .testimony .inner-testimony .author_testimony{\n\t font-size:18px;\n\t margin-top:20px;\n}\n .testimony .inner-testimony .role_testimony{\n\t font-size:18px;\n}\n .testimony .owl-theme .owl-nav .owl-prev{\n\t position:absolute;\n\t left:0;\n\t margin:-18px 0;\n\t top:50%;\n}\n .testimony .owl-theme .owl-nav .owl-next{\n\t position:absolute;\n\t right:0;\n\t margin:-18px 0;\n\t top:50%;\n}\n @media (max-width:992px){\n\t .testimony .inner-testimony{\n\t\t padding:40px 40px;\n\t}\n\t .testimony .inner-testimony .testimony_description{\n\t\t padding:0;\n\t}\n}\n @media (max-width:768px){\n\t .testimony{\n\t\t margin:50px 0 40px 0;\n\t}\n\t .testimony .inner-testimony .desc_testimony{\n\t\t font-size:19px;\n\t}\n\t .testimony .owl-dots{\n\t\t margin-top:30px !important;\n\t}\n\t .testimony .inner-testimony{\n\t\t padding:40px 0;\n\t}\n}\n\n<\/style>\n\n\t\t\t<div class=\"container\">\n <div class=\"testimony\">\n <div class=\"row justify-content-center\">\n <div class=\"col-xl-8 col-lg-10\">\n <div class=\"inner-testimony text-center\">\n <div id=\"owl-testimony\" class=\"owl-carousel owl-theme\">\n <div class=\"item\">\n <div class=\"testimony_description\">\n <p class=\"desc_testimony italic\"><i class=\"icon icon-quotation-left\"><\/i>Swoop was amazing! I was looking for refinancing and they were straight onto finding me the best possible option. I would highly recommend them.<i class=\"icon icon-quotation-right\"><\/i><\/p>\n <p class=\"author_testimony\">Laree Smith<\/p>\n <p class=\"role_testimony\">Owner, F45 Cambridge<\/p>\n <\/div>\n<\/div>\n\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n <\/div>\n<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t<div class=\"elementor-element elementor-element-6468c51 e-flex e-con-boxed e-con e-parent\" data-id=\"6468c51\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4627c2a elementor-widget elementor-widget-ucaddon_author_page\" data-id=\"4627c2a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_author_page.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\n\t\t\t\n\n\n <div class=\"info-user-post\">\n \n <div class=\"left-info\">\n <a href=\"https:\/\/swoopfunding.com\/za\/author\/chris-godfrey\/\" aria-label=\"Chris Godfrey\">\n <picture loading=\"lazy\" decoding=\"async\" class=\"attachment-large size-large\">\n <img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/chris-godfrey-author.webp\" data-lazy-src=\"https:\/\/swoopfunding.com\/wp-content\/uploads\/2024\/10\/chris-godfrey-author.webp?is-pending-load=1\" alt=\"\" class=\"jetpack-lazy-image\" loading=\"lazy\" width=\"92\" height=\"92\">\n <\/picture>\n <\/a>\n <\/div>\n \n <div class=\"right-info\">\n <div class=\"inner-top\">\n <div class=\"info-top\">\n <div class=\"info-title\">\n <p>Written by<\/p>\n <p class=\"name-author\"><a href=\"https:\/\/swoopfunding.com\/za\/author\/chris-godfrey\/\">Chris Godfrey<\/a><\/h3>\n <\/div>\n <\/div>\n\n <\/div>\n <div class=\"info-bottom\">\n <p>Chris is a freelance copywriter and content creator. He has been active in the marketing, advertising, and publishing industries for more than twenty-five years. Writing for Barclays Bank, Metro Bank, Wells Fargo, ABN Amro, Quidco, Legal and General, Inshur Zego, AIG, Met Life, State Farm, Direct Line, insurers and pension funds, his words have appeared online and in print to inform, entertain and explain the complex world of consumer and business finance and insurance.<\/p>\n <\/div>\n\n <ul class=\"social-links\">\n <li><a href=\"https:\/\/www.linkedin.com\/in\/christopher-godfrey-332198139\/\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\"Linkedin\">\n <img decoding=\"async\" src=\"https:\/\/swoopfunding.com\/za\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-linkedin-min.svg\" width=\"30\" height=\"30\" alt=\"Linkedin\">\n <\/a><\/li>\n \n \n <li><a href=\"https:\/\/www.freelancewords.co.uk\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" aria-label=\"Website\">\n <img decoding=\"async\" src=\"https:\/\/swoopfunding.com\/za\/wp-content\/themes\/swoopMW50\/assets\/icons\/icon-site-min.svg\" width=\"30\" height=\"30\" alt=\"Website\">\n <\/a><\/li>\n <\/ul>\n\n <div class=\"swoop-promise\">\n <p><strong>Swoop promise<\/strong><\/p>\n <p>At Swoop we want to make it easy for SMEs to understand the sometimes overwhelming world of business finance and insurance. Our goal is simple \u2013 to distill complex topics, unravel jargon, offer transparent and impartial information, and empower businesses to make smart financial decisions with confidence.<\/p>\n <p>Find out more about Swoop\u2019s editorial principles by reading our <a href=\"https:\/\/swoopfunding.com\/za\/about-swoop\/editorial-policy\/\">editorial policy<\/a>.<\/p>\n <\/div>\n\n <\/div>\n <\/div>\n\n \n\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-c32158c e-con-full e-flex e-con e-parent\" data-id=\"c32158c\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f8b7081 elementor-widget elementor-widget-template\" data-id=\"f8b7081\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"template.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-template\">\n\t\t\t\t\t<div data-elementor-type=\"section\" data-elementor-id=\"11997\" class=\"elementor elementor-11997\" data-elementor-post-type=\"elementor_library\">\n\t\t\t<div class=\"elementor-element elementor-element-db4fd27 e-con-full e-flex e-con e-parent\" data-id=\"db4fd27\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-5de8fca e-flex e-con-boxed e-con e-child\" data-id=\"5de8fca\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-df32f97 e-con-full e-flex e-con e-child\" data-id=\"df32f97\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-982ddef elementor-widget elementor-widget-heading\" data-id=\"982ddef\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"elementor-heading-title elementor-size-default\">Ready to grow your business?<\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7886947 elementor-align-center elementor-widget elementor-widget-button\" data-id=\"7886947\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"button.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<div class=\"elementor-button-wrapper\">\n\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md\" href=\"https:\/\/southafrica.swoopfunding.com\/get-started?fundingReason=fundingOnboarding&#038;version=v3\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Get 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rel=\"noopener\">Trustpilot<\/a>\n<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6fdb2dc e-con-full cta-mobile-fixed elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet e-flex e-con e-parent\" data-id=\"6fdb2dc\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;position&quot;:&quot;fixed&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-35c7785 elementor-widget elementor-widget-ucaddon_floating_cta\" data-id=\"35c7785\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"ucaddon_floating_cta.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\n\t\t\t<style type=\"text\/css\">\/* widget:Floating CTA *\/\n\n.container-floating-cta a{\n font-weight:700;\n border-style:solid;\n border-width:1px 1px 1px 1px;\n color:#FFFFFF;\n border-radius:50px 50px 50px 50px;\n width:100%;\n text-align:center;\n display:block;\n padding:6px 24px;\n transition:all 0.3s;\n}\n\n.container-floating-cta a:hover{\n background:#fff;\n color:#003E52;\n text-decoration:none;\n}\n\n.trustpilot-widget-floating-cta{\n margin-top:12px;\n}\n\n<\/style>\n\n\t\t\t\n<div class=\"container-floating-cta\">\n <a href=\"https:\/\/southafrica.swoopfunding.com\/get-started?fundingReason=fundingOnboarding&#038;version=v3\" class=\"btn-floating-cta\" target=\"_blank\" rel=\"noopener\">Get a quote<\/a>\n<\/div>\n\n<div class=\"trustpilot-widget-floating-cta\">\n \n <script type=\"text\/javascript\" src=\"\/\/widget.trustpilot.com\/bootstrap\/v5\/tp.widget.bootstrap.min.js\" async><\/script>\n \n\n \n <div class=\"trustpilot-widget\" data-locale=\"en-US\" data-template-id=\"5419b732fbfb950b10de65e5\" data-businessunit-id=\"5b437d760db9da00019935a0\" data-style-height=\"24px\" data-style-width=\"100%\" data-theme=\"dark\" data-token=\"6307e816-53aa-4589-828c-b174e8417264\">\n <a href=\"https:\/\/www.trustpilot.com\/review\/swoopfunding.com\" target=\"_blank\" rel=\"noopener\">Trustpilot<\/a>\n <\/div>\n \n<\/div>\n\n\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"author":26,"featured_media":0,"parent":0,"template":"","business-sectors":[343],"class_list":["post-38810","sectors","type-sectors","status-publish","hentry","business-sectors-business-loans"],"acf":[],"featured_image_urls_v2":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","image_blog":"","image_blog_full":"","image_podcast":"","image_banking":"","image_blog_internal":"","image_blog_medium":"","image_single_banking":""},"post_excerpt_stackable_v2":"<p>Construction loans and finance Constructing a new building or re-developing an existing property to sell for a profit, use for your own needs, or rent out for income, can be a successful financial strategy. Get a quote A South African property is almost always in demand. However, building buildings is not cheap. Large upfront costs to cover land, materials and labour will be incurred, and meeting these costs can put a major dent in any business cashflow. Fortunately, there\u2019s a solution to this problem \u2013 meet the construction loan &#8211; a purpose-built financial product that lets you fund the cost&hellip;<\/p>\n","category_list_v2":"","author_info_v2":{"name":"Chris Godfrey","url":"https:\/\/swoopfunding.com\/za\/author\/chris-godfrey\/"},"comments_num_v2":"0 comments","_links":{"self":[{"href":"https:\/\/swoopfunding.com\/za\/wp-json\/wp\/v2\/sectors\/38810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/swoopfunding.com\/za\/wp-json\/wp\/v2\/sectors"}],"about":[{"href":"https:\/\/swoopfunding.com\/za\/wp-json\/wp\/v2\/types\/sectors"}],"author":[{"embeddable":true,"href":"https:\/\/swoopfunding.com\/za\/wp-json\/wp\/v2\/users\/26"}],"version-history":[{"count":17,"href":"https:\/\/swoopfunding.com\/za\/wp-json\/wp\/v2\/sectors\/38810\/revisions"}],"predecessor-version":[{"id":44716,"href":"https:\/\/swoopfunding.com\/za\/wp-json\/wp\/v2\/sectors\/38810\/revisions\/44716"}],"wp:attachment":[{"href":"https:\/\/swoopfunding.com\/za\/wp-json\/wp\/v2\/media?parent=38810"}],"wp:term":[{"taxonomy":"business-sectors","embeddable":true,"href":"https:\/\/swoopfunding.com\/za\/wp-json\/wp\/v2\/business-sectors?post=38810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}