Nurcha is an innovative construction finance company that supports the national programme to house all South Africans in sustainable human settlements. Nurcha provides bridging finance to contractors and developers involved in the construction of Subsidy Housing, Affordable Housing, Community Facilities and Infrastructure.

Nurcha is a section 21 company (not for gain) and is funded by the South African Government in partnership with the Soros Foundation, various overseas donors and other commercial lenders. It is a long-established (since 1994) financial institution with considerable experience in construction finance. In the last 12 years we have provided loans to developers and contractors for the construction of over 250 000 homes and a large number of infrastructure projects throughout the country.

Nurcha is specially geared to provide construction finance for contractors or developers who cannot easily access finance from the conventional financial institutions. Each contractor or developer has unique needs and levels of experience. Some require a more closely managed approach than others, including assistance with project and cash flow management, material procurement etc. Nurcha assesses the needs of each applicant and structures the loan accordingly.

Emerging contractors with little or no project management experience, and who require a high level of support, are funded and managed through a system of Nurcha intermediaries. In this programme the project loan account is jointly managed by the contractor and the intermediary so as to ensure controlled payment for materials, labour etc. More established contractors and developers who do not require close management are funded directly by Nurcha.

In financing successful and profitable development projects, Nurcha contributes to the growth of the smaller, mainly black-owned construction companies. This is empowerment as it should be: adding value; creating jobs; helping mainly previously disadvantaged South Africans to reap the economic benefits of the political transition.