Business Cashflow – West Woombye, QLD
The Borrowers have backgrounds in property investment and development.
The purpose of this loan is to assist with business cashflow for a townhouse development in Maroochydore, Queensland.
The Borrowers can’t get bank finance as their financials do not support additional funding.
Security on offer is an unencumbered residential property in West Woombye, located in the Sunshine Coast Region of Queensland. The property is on 2,023msq land which features three bedrooms, a bathroom, and a garage.
The exit strategy is to sell one of their investment properties in Maroochydore to pay debt.
This loan has a 12 month pre-paid loan term, with the option for 3 monthly extensions.
Details
Security Property Valuation: $950,000
Loan Amount: $507,000 (First Mortgage)
LVR: 53.37%
Term: 12 months prepaid plus 3 monthly extensions
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