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With NAHB members continuing to face severe financing challenges as they attempt to line up credit for viable residential projects, the association has launched the NAHB Finance Forum, a free, online “matchmaking” tool that will enable builders and developers to connect and discuss their funding needs with representatives from a variety of traditional and non-traditional capital sources, including investment and private equity funds.
Patterned after the successful Partnership Pavilion held at the 2010 NAHB International Builders’ Show (IBS) in Las Vegas, which brought together more than 250 project proposals with 30 financial firms, the Finance Forum online networking service is available to NAHB members only.
“The Finance Forum provides members with an innovative and secure method to determine what types of financing might be available — alternatives that might save their project after traditional sources have failed,” said NAHB Chairman Bob Jones. “I hope my fellow members will take advantage of this timely and necessary service because it could begin opening doors for their businesses.”
“Members across the country continue to report that traditional financing remains elusive and they are hurting,” said NAHB CEO Jerry Howard. “That is why we are expanding our successful Partnership Pavilion event from last year’s IBS and making it into a nationwide program available year-round.”
Through the Finance Forum, participating NAHB members can submit their project information online and the computerized networking system will automatically find “matches” for them with suitable funding sources — based on the type of project, geographic area and the amount of funding needed.
To participate, builder and developer members are required to create specific project profiles and are encouraged to include as much detail as possible in order to enable as many matches as possible to be made. Supporting documents can also be included, as well as company overviews.
Participating members can choose from three different types of desired financing — new, refinancing and recapitalization of existing loans.
With corresponding lenders also submitting their requirements, the online networking service will then automatically match the members’ needs with lenders’ availability and notify the matching participants. Once a match is made, both the member and lender will be responsible for contacting each other to discuss the funding possibilities.
Members can participate in the forum by visiting www.nahb.org/financeforum and completing the forms on the NAHB website.
Members must be logged in to www.nahb.org with their username and password in order to use the service.
Partnership Pavilion Returns to IBS
The Partnership Pavilion, which resulted in nearly 400 meetings between members and lenders at the 2010 IBS, will return to the show in Orlando on Jan. 12-15 as the Finance Pavilion.
The fee to participate in the Finance Pavilion is $50. It is available to NAHB members who have purchased a full IBS registration and will give them access to meetings at the pavilion during all four days of the show.
For more information, e-mail Dennis Harrison at NAHB, or call him at 800-368-5242 x8188.