How PMA Provided Urgent Funding for a Borrower Looking to Take Advantage of an Investment Opportunity
Scenario
The Borrower is a Senior Executive at one of the big four banks.
The purpose of the loan was to provide fast access to funds for the purchase of gold as an investment.
The security offered was an unencumbered apartment in inner city Melbourne.
Why PMA?
Traditional bank financing wasn’t available due to the borrower being on an extended overseas vacation, which made it difficult to meet standard documentation requirements and timelines.
PMA Solution
We provided a 12-month capitalised interest loan secured by a first mortgage over the apartment.
Details
Loan Amount: $185,000 ( First Mortgage)
Property Value: $560,000
LVR: 33.04%
Term: 12 months prepaid plus 3 monthly extensions
Broker Commission*: $4,070 including GST
*with no clawback
Exit
The exit strategy is to secure traditional financing from a major bank in the next 12 months.
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!)
