INVESTMENT OVERVIEW
The Borrowers have extensive experience operating multi-service businesses, including mining maintenance, rail, plant hire, labour hire, and vegetation control.
The purpose of this loan is to refinance several existing business loans from their current bank.
The Borrowers are unable to secure traditional bank financing due to a recent downturn in their business. This was primarily caused by a major contract falling through after they had already committed funds to hiring staff and acquiring equipment in preparation for the project.
Security on offer is the residential property in East Branxton, a town within the Cessnock City Council, situated in the Hunter Region of New South Wales. The property sits on a land size of 6,832 m² and comprises a four-bedroom, two-bathroom home with four parking spaces.
The exit strategy is to refinance out to repay the loan.
This loan has a six month pre-paid loan term, with the option for two 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
