INVESTMENT OVERVIEW
The Borrowers have backgrounds in operating a commercial cleaning company.
The purpose of this loan is to provide additional business cashflow and working capital for development projects with other external parties.
The Borrowers can’t get bank finance as their financials do not support further lending.
Security on offer is a residential property in Loganholme, a suburb of Logan, Queensland. The property is on 598msq land which comes with four bedrooms, one bathroom, and a spacious garage.
The exit strategy is to reduce the loan with business earnings and refinance out to their current bank.
This loan has a 12 month pre-paid loan term, with the option for 3 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
