The South African population is growing and this affects urban and rural development. The provision of housing for urban dwellers in the lower income bracket has not always considered a number of important factors that affect this market. Norufin is a finance company that specialises in” Enhancing Lifestyles” according to its motto. Norufin was founded in 1999 with the aim of addressing the housing needs of the lower income sector in the urban and rural areas of South Africa.
Norufin identified the biggest challenge to low-cost housing development as accessing finance. This sector has often not been serviced with the adequate dedication it requires. Norufin has stepped in to claim pole position as a pioneering financial services provider for this market. In association with Micro Finance South Africa, Norufin is able to effectively address the needs of the lower income sector.
Norufin’s Non-Bondable Housing Related Loans (in partnership with Rural Housing Loan Fund) are designed to provide funding for improvements on existing structures for R30 000 or less. This may be applicable to homes on traditional tribal land which can therefore not be bonded.) This loan is repayable over 24 months.
Additional Norufin Housing Services include Borrower Education and its relationship with Third Parties. This is an agreement with building materials suppliers, which allows them to supply clients with required building materials and for payments to be made directly to suppliers. Norufin’s relationships with third parties, benefits its clients by creating easier channels of obtaining building or renovation materials.
With its dedication to providing solutions to enhancing quality housing, Norufin is an exceptional leader in the micro finance industry.
Norufin can be contacted on 018 381 9913.