Projects within striking distance of occupation certificate. Often the most strategically valuable tranche in the entire stack — and the one that's most frequently mishandled.
A project that is 80% complete is not 80% delivered. It cannot be occupied. It cannot trigger final buyer payments. It cannot generate the cash flows that service existing debt, fund the next project, or return equity to promoters. The OC is the unlock event — and the last-mile capital that gets you there is the most consequential tranche of the entire stack.
The irony is that last-mile finance is also frequently the hardest to raise. Buyers are holding back final payments. The construction lender has deployed its facility and is watching covenant headroom. Pre-sales are 70-80% done but the remaining inventory is the slower-moving units. The project is close to finished and far from funded.
FINKOI structures last-mile mandates for exactly this situation — where the asset has real value and a credible path to completion, but the conventional financing options have run out of room.
Last-mile capital is a short-duration, high-conviction bet on a project crossing the finish line. The structure should reflect that — not price it like a stressed asset.
A bridge facility sized to the completion gap — construction costs to OC, not a full project refinance. Repaid from the burst of buyer payments that OC unlocks.
We model the buyer payment schedule, identify what triggers demand letters, and structure the repayment timeline around actual cash-in rather than assumptions.
Where unsold inventory is part of the security story, we structure around realistic sale timelines — not optimistic absorption — to keep the lender confident throughout.
Where a construction loan is already in place, we negotiate the co-existence of the last-mile facility — intercreditor arrangements, pari passu or subordinated — without triggering the existing lender's default provisions.
Where promoter contribution is required, we define the minimum defensible amount and structure it as a condition precedent that strengthens lender confidence without straining the balance sheet.
Repayment scheduled around OC receipt and the buyer payment burst that follows — not an arbitrary date that puts the project in technical default two months before the unlock.
Last-mile lenders underwrite on completion probability, not project health. The assessment is: can this project cross the OC line, and what happens to our security if it doesn't?
With dedicated teams who can assess physical completion status, approve quickly, and price rationally based on actual project risk rather than category assumptions.
Higher appetite for short-duration, completion-risk transactions where the yield compensates for the specific risk rather than the generic category.
Where the existing construction lender has headroom and confidence in the project, a facility extension or top-up is often the cleanest and fastest path.
Not every stalled project is a last-mile problem. These are the indicators that point to last-mile finance as the right tool.
The project is genuinely close to OC — not aspirationally close. Physical completion is verifiable and the remaining work is defined and costed.
A solid pre-sales register exists. Buyers are contractually committed. The payment trigger is OC — and that's what the capital is designed to reach.
The gap between available resources and OC cost is calculable. Not a liquidity crisis — a financing gap with a clear close date and a credible repayment source.
Share the project status — completion percentage, funding gap, pre-sales position. We'll tell you whether last-mile finance is the right tool and what it would look like.
