Financing Options for Borehole Drilling
Many South Africans capitalise on the benefits of having a source of groundwater at their homes. Groundwater is yielded from underground aquifers using submersible pumps that pump the water to the surface. Such a system is called a borehole and serves as a modern-day equivalent to a well.
The subterranean water can be accessed and its purity will determine what it can be used for. Outdoor uses include outdoor taps, irrigation systems, and swimming pools. Should the water be potable, it can also be linked to the house’s water supply.
Financing your borehole drilling and installation can be difficult and you would have to deal with financial-services providers (FSPs) regarding purpose-based loans. We can be of service, offering an accessible way to secure such a loan through FinYou. The process is simplified, only requiring the customer to complete an application form and have the necessary documentation at hand, should the loan be approved. Today, we will glance at the costs involved when drilling and installing a system that can deliver groundwater for your household. Every borehole is unique and many factors are at play.
The first step is to finance your borehole expenses. This step secures the money that you will need to pay for drilling and installation. This process starts with locating the nearest aquifer in your area. A hydrogeologist is employed to find the underground source. Once the location is sited, the ideal drilling spot can be sited as well. Drilling through soft materials such as loose ground or soft sand can lead to the well collapsing in on itself during this process, requiring a well casing at extra cost. Drilling through compacted or hard materials such as rock deposits is, therefore, preferred. This creates naturally reinforced well walls.
Other aspects such as manhole installation and site clean-up will also add to the costs but these are mostly fixed charges. To secure financing for your borehole drilling and installation, FinYou requires your payslips and certified bank statements from the past three months. They also require a full-colour copy of your identification document, as well as proof of residence. Ensure you have these documents at hand when applying for a purpose-based loan through FinYou.
Domestic Boreholes covers every base regarding the drilling, installation, repair, and maintenance of residential boreholes. We can also assist with financing options for our clients. For more information on how we can supply and optimise a feasible alternative source of water for your household, please peruse our website.