Restaurant Purchase-Belgrave, VIC
The Borrowers have a background in operating restaurants.
The purpose of this loan is to refinance an existing loan and complete the purchase of a Restaurant Business in Gembrook, a one-hour drive from Melbourne, VIC.
The Borrowers can’t get bank finance as their latest financials are not up to date.
Security on offer is a residential property in Belgrave, a quaint town rich in history, nature and excellent wine. The property is on 1,273msq land and has a single level dwelling that consists of three bedrooms, one bathroom and a garage.
The exit strategy is to refinance out once financials are prepared.
Details
Security Property Valuation: $620,000.00
Loan Amount: $250,000.00 (First Mortgage)
LVR: 40.32%
Term: 6 months plus 3 monthly extensions
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