Financing
Conventional Bank Mortgages
Most lending institutions are very happy to provide mortgages for Force 10 projects because they realize that a fully engineered building is a better risk than a structure that may not be engineered to resist the forces of Nature. Force 10 buildings have consistently resisted hurricanes, typhoons and earth tremors throughout the world without any structural damage for over 10 years. The materials employed in the floor, wall and roof system are fully guaranteed and provide finished surfaces that typically require lower maintenance than conventionally built homes. Since the appraised value of the Force 10 home is typically greater than the cost of completion, the bank is assured that the home is a good risk when built and after many years of use.
Model Homes
New Force 10 Agents are required to build model homes in their market areas in order to demonstrate the aesthetic appeal, affordability, engineered strength and quality finish of the Force 10 System. Agents may apply for assistance from Innovative Builders, Inc. in the financing of the model home. A good marketing plan, construction budget and a business plan are required for consideration.
Large Projects: The Australian Export Finance and Insurance Corporation (E.F.I.C.)
E.F.I.C. will finance the Australian content of Force 10 projects to qualified borrowers for projects of a minimum of US $2,000,000. The E.F.I.C. scheme is designed to help governments and developers obtain the financing necessary to get large projects started if capital is tight or costly in their locality. Examples of projects eligible for E.F.I.C. financing:
1) Government OfficesThe E.F.I.C. scheme will finance 85% of all Australian content including shipping and Australian supplied labor if needed. The loan cannot be used to finance local mortgages. A 15% deposit is required upon application which is held in Escrow pending approval and is fully refundable. Initial applications are approved in 30 days and final approval takes 90 days. The loan period can be up to 10 years and carries either a fixed rate or a floating L.I.B.O.R. rate. Payments are due every 6 months in arrears. A Bank Guarantee is required from an approved Bank.
2) Low Cost Housing
3) Schools, Hospitals, Clinics
4) Force 10 Production Facility
5) Private Sector Projects such as employee housing, resort developments, office blocks
To optimize the loan conditions, you should order as much Australian content as possible. Ordering a large number of component packages will save considerably on shipping costs. We can charter a ship to deliver 100-150 homes at a time, which will reduce shipping costs 25% to 40%.
