BUILDA™ Construction Loan
Product Overview
BUILDA™ is Global Trust Mortgage Bank’s dedicated construction finance product tailored for developers seeking flexible capital for project delivery, including joint ventures and phased development. BUILDA™ is structured to de-risk the bank’s exposure while supporting efficient capital deployment, milestone funding, and integration into our retail mortgage pipeline.
Key Features
- Construction financing (in tranches) for residential/mixed-use developments
- Developer must contribute minimum 10% equity to the project
- Performance bond (10% of loan value) required for all disbursements
- Loan proceeds may only be used for material inputs and approved acquisitions
- May or may not require real estate collateral depending on project and track record
- Appointed project consultant must oversee monitoring and draw approvals
- Open to Joint Venture (JV) structures, provided GTMB receives sales visibility and buyer pool access
- All funded projects must domicile sales proceeds with GTMB
- Developer must have a minimum 3–6 month banking relationship with GTMB
Eligible Developers
This product is targeted at mid-to-large scale developers, cooperatives, and landowners who meet the following criteria:
- Registered business entity with minimum 2 years development experience
- Proven track record of project delivery or JV participation
- Active account with GTMB for at least 3–6 months
- Project documentation: approvals, bill of quantities (BOQ), schedule, and milestones
- Available equity funding of at least 10% of total loan value
- Commitment to use a GTMB-certified project consultant
Loan Terms and Structure
- Loan Tenure: 6–36 months
- Interest Rate: 3.25% monthly flat rate. (risk-adjusted)
- Disbursement: In tranches based on certified project milestones
- Performance Bond: Required (10% of loan value) from recognized surety providers
- Repayment: Bullet or amortized, depending on sales strategy
- Collateral: May be required on case-by-case basis; typically the land or project SPV
Use of Proceeds
Funds disbursed under BUILDA™ must be used solely for the acquisition of physical materials, including structural components, finishings, and infrastructure. Payment is made directly to vendors, contractors, or consultants, based on invoice and project milestone validation.
Project Monitoring & Compliance
To ensure project integrity, the following controls are in place:
- Project consultant must be appointed by developer from GTMB-approved list
- Monthly project report submission and milestone validation required
- All sales proceeds must be domiciled in a GTMB project account
- GTMB reserves the right to deploy monitoring officers at site
- Non-compliance triggers loan recall, disbursement suspension, or penalties
Sales Integration & Exit Strategy
All completed units financed under BUILDA™ are granted exposure to GTMB’s pool of mortgage-ready buyers through the HomeNow™ and HomePlan™ platforms. This ensures faster unit absorption, loan repayment, and developer liquidity.
