Fill the gap in your construction project with BLOX’s gap finance solutions. Our experts will get you the extra funding you need to finish your build, keep your project on track despite unexpected costs or delays, and navigate the complexity of this short-term funding.
Get extra funds to cover cost overruns, material price increases or unexpected expenses and help keep your project moving without delay.
We work with a network of lenders who understand construction projects, can provide gap finance solutions, and can help you manage the risks.
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Our team will help you develop a clear, time-sensitive exit strategy to satisfy stringent lender requirements, whether through refinancing or project completion and sale, to mitigate default risks.
At BLOX, we're ready to help you navigate the complexities of construction finance and bring your vision to life.
Get startedGap finance applies when your primary lender’s construction loan falls short due to unforeseen costs or delays. A secondary lender, often a private funder, provides the necessary additional funds. They typically secure their loan with a second mortgage or caveat on the property. Unlike traditional banks, these lenders focus on the strength of your exit strategy, whether through refinancing or selling the property once the project is complete.
Gap finance involves higher fees and interest rates because it is short-term and carries more risk for the lender.
The main risks include higher interest rates and the lender’s willingness to enforce their security if you’re unable to repay, such as initiating a sale of the property.
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