INVESTMENT OVERVIEW
The Borrowers have backgrounds as commercial and civil contract builders and have recently secured a contract, requiring working capital to successfully execute it.
The purpose of this loan is to obtain additional working capital for a newly awarded contract with the Queensland Government (Department of Housing and Public Works) for precinct revitalisation.
The Borrowers can’t get bank finance due to the lengthy application process and require immediate access to funds.
Security on offer is the commercial property in Yandina, a town on the Sunshine Coast, Queensland. The property spans a 214m² lot and includes a multi-warehouse facility with 23 on-site parking spaces for the complex.
The exit strategy is to sell either Unit 1 or Unit 2 of the complex to repay the debt.
This loan has a twelve month pre-paid loan term, with the option for three monthly extensions.
SECURITY DETAILS
- The loan will be secured by two Second Mortgage
- Two Personal Guarantees from Individual Sponsors
- One General Security Agreement over Corporate Sponsor + PPSR Charge
- Two General Security Agreement over Individual Sponsor + PPSR Charge
