Business Cashflow- Agnes Water, QLD
The Borrowers have a background in purchasing start up tourism cafés and then on-selling them once profitable. The Borrowers have been in this industry for nine years.
The purpose of this loan is to provide equity release for additional cashflow and fit out of a start-up café.
The Borrowers can’t get bank finance due to the time constraints and the nature of a start-up café.
Security on offer is a commercial property in Agnes Water, a coastal town in the Gladstone Region, Queensland. The property is on 7,115msq land which comes with a commercial shop with a main road frontage of 162msq.
The exit strategy is to refinance with a major institution or sell the business at the end of term.
This loan has a 12 month pre-paid loan term, with the option for 12 monthly extensions.
Details
Security Property Valuation: $600,000
Loan Amount: $238,000 (First Mortgage)
LVR: 39.67%
Term: 12 months prepaid plus 12 monthly extensions
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