INVESTMENT OVERVIEW
The Borrowers have backgrounds in property investment and development and are now expanding into the real estate industry with the establishment of a new agency.
The purpose of this loan is to provide additional working capital to support the launch and initial operations of the business.
The Borrowers are unable to obtain traditional bank finance due to the start-up nature of the company and the Borrowers’ need for immediate access to funding.
Security on offer is a residential property in Kallaroo, a suburb within the City of Joondalup, north of Perth CBD. The property is situated on a 601sqm allotment and comprises a six-bedroom, five-bathroom residence with two parking spaces and beachfront views.
The exit strategy is to repay the loan from business cash flow generated through the Borrowers’ business operations.
This loan has an eight month pre-paid loan term, with the option for two monthly extensions.
SECURITY DETAILS
- The loan will be secured by Second Mortgage
- Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge
