Equity Release to Fuel Growth of EV Company
Scenario
The Borrowers operate a specialised company providing customised electric vehicles for fleet owners in the mining, agriculture, and energy sectors. This loan was structured to fund a comprehensive website rebranding and the acquisition of additional business stock to meet growing demand.
Security was provided by a three-bedroom, two-bathroom residential property situated on a 369 sqm lot in a premier suburb northwest of Perth’s CBD, Western Australia.
Why PMA?
The Borrowers were unable to secure traditional bank financing at this time due to existing mortgage commitments and reaching their current lending capacity with mainstream institutions.
PMA Solution
PMA was able to provide an equity release against the clients property for the rebranding of his business and to purchase stock.
Details
Loan Amount: $550,000 (First Mortgage)
Property Value: $1,405,000
LVR: 39.15%
Term: 6 months prepaid plus 2 monthly extensions
Exit
The agreed exit strategy was the sale of the security property to fully repay the facility.
Ready to discover how PMA can help provide finance solutions for your business (or your client's business)? Submit a scenario now and we'll get in touch (4-business hours response time guaranteed!)
