Many first-time developers ask whether they can get development finance without a completed project history. The answer depends on the project, team, equity contribution and lender appetite.
Can first-time developers get funding?
Yes, in some cases. However, lenders may require stronger support, including a fixed-price building contract, experienced builder, stronger equity contribution or lower gearing.
What helps your application?
First-time developers can improve their funding position by providing:
- Strong feasibility
- Experienced builder
- Planning approval
- Realistic budget
- Contingency allowance
- Clear exit strategy
- Evidence of equity contribution
- Professional team details
Why lenders care about experience
Development projects involve construction risk, sales risk and timing risk. Experienced developers are usually seen as lower risk because they have completed similar projects before.
Options for first-time developers
Funding may be available through:
- Non-bank development lenders
- Private credit lenders
- Joint venture partners
- Lower LVR senior debt
- Additional security support
How Nine Fincap can help
Nine Fincap can review your project and advise whether it is suitable for development finance, private funding or joint venture funding.
Starting your first project? Book a Development Funding Call with Nine Fincap.
Disclaimer
This information is general only. First-time developer funding is subject to project assessment, security, feasibility and lender approval.