The Sponsors have a history of property investment and own a warehouse and storage building.
The purpose of this loan is to refinance an existing loan and to provide additional working capital to their business.
The Sponsors can’t get bank finance as their financials do not support further borrowing.
Security on offer is a commercial property in Bridgewater, a suburb of Hobart, Tasmania and consists of an operational warehouse and storage building on 1.18 acres of land.
The exit strategy is to refinance to another lender or extinguish debt from trading cashflow.
- The loan will be secured by a First Mortgage
- Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge