ZZZ has thirteen(13) months to complete the construction. The total contract price is $880 million . It is estimated that ZZZ will make a profit of 22% of the contract value. Labour costs and material costs are expected to be 67% and 33% of the construction costs, respectively. As this is a relatively straightforward project for ZZZ, it is safe to assume that construction progress will be spread evenly over the life of the project. Salary will be paid out in the middle of each month.

Interim payment certificates will be issued at the end of each month, and the corresponding payments received from its customer will occur two months after the issue of the progress certificate. Therefore, the builder will receive the first monthly payment at the end of the third month.

At the beginning of the project, the initial retention fund of ZZZ should have 4% of the total contract value. Additionally, ZZZ has to set up a retention fund which will require retentions at the rate of 8% of the monthly payments.

As a well-established construction company, ZZZ expects no difficulties in obtaining one-month credit terms from the suppliers of the necessary construction materials. The payment will occur in the middle of the month.

For this type of loan, Monash bank requires a minimum own provided capital ratio of 45%.

(1) Determine the minimum finance required for this builder and the maximum loan amount that Monash bank would lend to the builder given the banks current policy?