INVESTMENT OVERVIEW
The Borrower has extensive experience in the agricultural products industry and is planning to launch a new product line.
The purpose of this loan is to refinance an existing debt and support the launch of his new line of products.
The Borrower is unable to obtain bank financing due to age-related lending restrictions as he is currently 83 years old.
Security on offer is a residential property located in Armadale, an inner suburb in Melbourne, Victoria. Situated on a 402 sqm lot, the property includes three bedrooms, two bathrooms, and a garage. It currently has two drive-by appraisals.
The exit strategy is the sale of the Borrower’s new product line in the United States which is scheduled for release this 2025.
This loan has a twelve month pre-paid loan term, with the option for three monthly extensions.
SECURITY DETAILS
- The loan will be secured by a First Mortgage
- Three Personal Guarantees from Individual Sponsors
- Two General Security Agreement over Corporate Sponsor + PPSR Charge
- Three General Security Agreement over Individual Sponsor + PPSR Charge
