The Sponsors have a background in operating cafes and are purchasing a take away food and café business operating in Mitchell, ACT.
They aren't able to obtain bank finance as this a new business and banks are not willing to lend on the current vendor’s financial statement.
The security property on offer is the Sponsor's principle place of residence - a single storey house in Isabella Plains, ACT, with four bedrooms on 863msq.
The Sponsor's exit strategy is to operate the business for 12 months, complete the financials and then refinance to a traditional bank.
The loan will be secured by a Second Mortgage
General Security Agreement over Corporate Sponsor + PPSR Charge
Personal Guarantees from Individual Sponsor
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