Business Cashflow- Mitchelton, QLD
The Borrowers have over eighteen years experience in the pet industry and their current business has been operating since 2015.
The purpose of this loan is to acquire additional stock at discounted prices and to upgrade display facilities on their business premises.
The Borrowers can’t get bank finance as their financials are not yet prepared and the funding turn around requirement.
Security on offer is a residential property in Mitchelton, a north-western suburb in the City of Brisbane, Queensland. The unencumbered, single level house is on 807msq land which comes with three bedrooms, two bathrooms, and a garage.
The exit strategy is to refinance with a major institution once their financials are prepared.
This loan has a 6 month pre-paid loan term, with the option for 3 monthly extensions.
Details
Security Property Valuation: $1,150,000
Loan Amount: $280,000 (First Mortgage)
LVR: 24.35%
Term: 6 months prepaid plus 3 monthly extensions
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