Has your project come to a standstill due to a lack of funds? Are you searching for funding alternatives to finance your project? Look no further as your search stops here. Last mile project funding will help you fulfil all your financing needs.
The method is usually employed to unlock projects that have come to a standstill or have been discontinued due to cash crunch. Moreover, this financing method has increasingly become accepted among those developers whose projects are in their final stage and need more financing alternatives.
Even those developers who have been in the business for years get tensed when faced with the hurdle of being short of capital. Additionally, there may be certain times when it might be costly to obtain finance for a project.
Moreover, if the demand has reduced, and the original funding source is not working efficiently, it can even lead to an escalation in the project's time period.
Capital markets these days are not as supportive of developers as they used to be. Even some banks have stopped providing acquisition funding, and other financing sources are becoming increasingly supervised.
As a repercussion, the developer experiences deficit of growth capital required to make the business run smoothly. In addition to this, extending the project time also increases the overall project costs.
Hence in order to maintain a smooth flow of funding, it is recommended that the project gets finalized within the stipulated period of time.
A last mile project funding provides assistance to overcome all the obstacles in the working of your project.
Furthermore, only high-end customers take the initiative to invest money in private equity.
Last-mile project funding essentially involves clear identification of the remaining project to be implemented, the exact additional cost involved in the same. The last mile funding can be in the shape of a priority debt or a sub-debt depending upon the requirement.
The repayment of this portion of the funds is separately identified and stipulated and will generally involve a higher rate of interest.
One must follow these four golden rules during the completion stage, so as to avoid unnecessary delays.
Step one- Discipline is the key to success.
Guidelines and regulations need to be complied with for the project in advance to avoid any hassles in the future.
Step two- Modify your definition of progress.
They say initial progress leads to further success, and a lethargic attitude leads to sloppiness. Hence instead of asking the workers about the percentage figure of progress try setting small goals for each day. Additionally, you can also divide the tasks into three stages, i.e., Commenced, Not started, and Finished.
Based on this, you can plan your finances and obtain the last mile of project funding.
Step three- Always keep a substitute/alternative ready.
There may be times during the progress of a project when stress and burnout may reduce the number of project workers. Hence it is recommended that one must keep their backup handy so that the project does not come to a complete halt.
Step four- Keep the stakeholders informed.
Keeping all the stakeholders updated about the progress and additions to the project during its final stages is very important. A healthy relationship with the shareholders helps ensure that the project is completed within a fixed tenure and avoids hindrances.
Resurgent India is one of the pioneers in the industry who arrange financial assistance and support to distressed businesses and can help you meet all your last mile project funding needs. Here are a few reasons why you must choose their services.
I hope these reasons are enough to convince you to consult them for all your project funding needs. Don't be a victim of your circumstances. Please seek the inputs of experts from Resurgent India. Additionally, you can visit their website for more details.