How PMA Helped Secure Working Capital and Consolidate ATO Liabilities for Electrical Business
Scenario
The borrowers operate a well-established electrical services business.
They required additional working capital to support ongoing business operations while consolidating outstanding ATO liabilities into a single loan.
The security offered was a residential property comprising approximately 19.98 hectares of land, featuring a four-bedroom, two-bathroom home with a double carport.
Why PMA?
The borrowers' financial statements were not up to date, and they had outstanding tax debt, making it difficult to secure finance through traditional lending channels.
PMA Solution
Released funds against a property the client owns to pay out the ATO Debt.
Details
Amount: $387,500 (First Mortgage)
Property Value: $775,000
LVR: 50.00%
Term: 24 months prepaid plus 3 monthly extensions
Broker Commission*: Broker Service Fee: $4,263.00 Referrer Fee: $4,623.00
*with no clawback
Exit
The planned exit strategy was to refinance the loan with a mainstream lender once the borrowers' financial position improved or, alternatively, sell the security property to fully repay the loan.
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!)
