INVESTMENT OVERVIEW
The Borrowers are builders and have backgrounds in property construction.
The purpose of this loan is to provide additional business cashflow and working capital for future projects.
The Borrowers can’t get bank finance as their latest financials are not up to date.
Security on offer is a two-storey residential property in Pambula Beach, a coastal suburb in NSW. The property is on 632msq floor area which comes with three bedrooms and a large balcony with an ocean view.
The Borrowers have offered their principal place of residence in Lochiel, NSW as an additional security. The property is on 13.3ha land with a five bedroom house.
The exit strategy is to sell the property at Pambula Beach which is currently on the market.
This loan has a 6 month pre-paid loan term, with the option for 3 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
