Loan pipeline at GPS for projects to commence before the end of 2017 is quite full. We can, however, always take a few more $3 to $5 million deals for shovel ready projects. Interest rates from 9.75%.
I am now starting to focus on loans for projects set to commence in early 2018. The GPS sweet spot is loans in the $3 million to $7 million bracket. While we can lend on larger projects, we currently like the smaller projects as they provide greater loan book diversity in these changing market conditions.
I expect that lending will only get tighter in 2018. Now is the time to start securing your finance for projects which are due to commence in early 2018.