INVESTMENT OVERVIEW
The Borrowers have backgrounds in carpentry and property construction.
The purpose of this loan is to refinance an existing loan.
The Borrowers are currently unable to obtain traditional bank finance as their financials are not yet complete.
Security on offer is the residential property located in Donvale, suburb located east of Melbourne’s central business district within the City of Manningham local government area in Victoria. The property is sitting on a 786sqm allotment and comprises a five-bedroom, three-bathroom residence with two parking spaces.
The exit strategy is to refinance the loan.
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 Second Mortgage
- Two Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge
