The Sponsors have a background in renewable energy and operate a green energy consultancy.
The purpose of this loan is to provide business cashflow.
The Sponsors can’t get bank finance as their current lender won’t provide short-term finance.
Security on offer is a residential property in Arundel, a suburb of the Gold Coast in Queensland. The property is on 839msq land and includes a double storey house with 5 bedrooms, 2 baths and double lockup garage.
The exit strategy is to repay the loan from the proceeds of a favourable court case ruling expected to be paid in April 2022.
- The loan will be secured by a Second Mortgage
- Personal Guarantee from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge