Business Cashflow- Oakbank, SA
The Borrowers have a background in operating a retail shop specialising in saddlery, fodder and pet supplies.
The purpose of this loan is to pay various business creditors and for additional working capital for their business.
The Borrowers can’t get bank finance as their latest financials are not up to date.
Security on offer is a commercial property in Oakbank, a town in the Adelaide Hills, east of Adelaide in South Australia. The unencumbered property is on 1,093msq land and comes with a fully operational retail shop.
The exit strategy is to refinance out as soon as financials are prepared.
Details
Security Property Valuation: $580,000
Loan Amount: $225,000 (First Mortgage)
LVR: 38.79%
Term: 6 months prepaid plus 3 monthly extensions
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