$1M Refinance Arranged with PMA – Borrowers Opt for Ease Over Traditional Lenders
Scenario
The Borrowers have extensive experience in investing and share trading, as well as expertise in accountancy, corporate consulting, mergers and acquisitions, corporate restructuring, and preparing IPO documentation.
The loan was used to refinance an existing debt.
The security offered was an investment property located in the coastal town of Dunsborough in Western Australia. The property is a double-storey residence on an 819sqm lot, featuring five bedrooms, two bathrooms, and a spacious garage.
Why PMA?
The Borrowers were unable to get bank financing as their financials do not support additional borrowing, and they prefer the ease of dealing with a private lender.
PMA Solution
PMA provided a 12-month prepaid loan which matched the borrowers exit strategy allowing time to sell assets and/or arrange refinance.
Details
Loan Amount: $1,000,000 (First Mortgage)
Property Value: $3,400,000
LVR: 29.41%
Term: 12 months prepaid plus 3 monthly extensions
Exit
The Borrowers’ exit strategy is to either sell shares or refinance once their financials are completed. They also own a property in the UK, which may be sold to clear the debt.
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