Fast Refinance for NSW Grain Farmers in Regional NSW
Scenario
The borrowers have experience operating a grain supply chain business in regional New South Wales. They required funding to refinance an existing facility and pay out their loan with a major bank.
The loan was secured against two adjoining farms in regional NSW, spanning 1,091 hectares and divided into approximately 14 main paddocks. Property improvements include a three bedroom brick home, a machinery shed, and a range of mixed use silos supporting ongoing grain operations.
Why PMA?
The Borrowers were unable to proceed with traditional bank finance due to the time sensitive nature of the transaction and the slower approval process of major lenders.
PMA Solution
PMA provided a one year capitalised interest loan totalling $2,630,000 at 10.95% p.a.
Details
Amount: $2,630,000 (First Mortgage)
Property Value: $5,260,000
LVR: $50,00
Term: 12 months prepaid plus 3 monthly extensions
Broker Commission*: $43,395
*with no clawback
Exit
The borrowers intend to refinance the loan through another facility once suitable lending terms become available.
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!)
