Does GEFA charge interest during construction?
Yes. GEFA charges interest during construction, but only on funds drawn to date. Interest begins to accrue on each successive amount drawn until the project is closed. Once the project is complete and the loan is placed into repayment, the loan recipient has the option to roll the accrued construction interest into the permanent loan or to pay all the accrued construction interest up front at the time permanent repayment begins.
