The Sponsor operates a motel in Swansea in Tasmania.
The purpose of this loan is to purchase a residential property for future subdivision.
The Sponsor can’t get bank finance as they can’t provide current financials.
Security on offer is a double storey residential property on 556msq land area in Howrah, a beachside suburb part of greater Hobart. The property has three bedrooms and one bathroom and a lock up garage.
The exit strategy is to complete the land subdivision and sell the house and the rear block separately.
- The loan will be secured by a First Mortgage
- Personal Guarantee from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge