75% LVR Loan for Commercial Cleaning Business Expansion
Scenario
The Borrowers with a background in operating a commercial cleaning company, sought a loan to enhance cash flow and support property development projects with external partners. As security, they offered a residential property situated on 598 sqm of land, which included four bedrooms, one bathroom, and a spacious garage.
Why PMA?
The Borrowers can’t get finance from the banks as their financials do not support further lending.
PMA Solution
PMA provided cash out for working capital to assist the borrowers with their property development funding requirements.
Details
Loan Amount: $256,000 (Second Mortgage)
Property Value: $555,000
LVR: 74.95%
Term: 12 months prepaid plus 3 monthly extension
Broker Commission*: 1.00% = $2,560 (plus GST)
*with no clawback
Exit
The exit strategy was completed by repaying the loan through business trading and refinancing with their current bank.
Ready to discover how PMA can help provide finance solutions for your business (or your client's business)? Submit a scenario now and we'll get in touch (4-business hours response time guaranteed!)
