ATO Debt Consolidation Made Possible with PMA’s Flexible Lending Approach

Scenario

The purpose of this loan was to provide additional working capital and assist in paying out outstanding ATO debts.

The security property offered was a residential property comprising a 612 sqm lot with four bedrooms, two bathrooms, and a lock-up garage, providing ample living space and secure parking.

Why PMA?

Traditional banks were not comfortable proceeding with the loan under the proposed Power of Attorney structure.

PMA Solution 

We were able to leverage a property the clients owned to release equity to pay out a company ATO Debt.

Details

Loan Amount: $810,000 (First Mortgage)

Property Value: $1,300,000

LVR: 62.31%

Term: 4 months prepaid plus 2 monthly extensions

Broker Commission*: Referrer Fee: $8,910.00 Broker Fee: $8,910.00

*with no clawback

Exit

The proposed exit strategy is the sale of one of the client’s businesses, with proceeds to be used to fully repay the facility and clear all outstanding debts.