INVESTMENT OVERVIEW
The Borrowers have backgrounds in property development and are registered builders in Victoria. Their business has been in operation since 2006.
The purpose of this loan is for the repayment of trade creditors and for additional working capital.
The Borrowers can’t get bank finance due to adverse credit report.
Security on offer is the investment property in Mooroolbark, a suburb of Melbourne, Victoria. The property is a double storey residential building on 2,615msq land which comprises of four bedrooms, a large lockup garage, an inground pool, and a tennis court.
The exit strategy is to collect repayment from normal trading income.
This loan has a three month pre-paid loan term, with the option for three monthly extensions.
SECURITY DETAILS
- The loan will be secured by two Second Mortgages
- Two Personal Guarantees from Individual Sponsors
- General Security Agreement over Corporate Sponsor + PPSR Charge
