Investment Capital- Cessnock, NSW
The Borrowers have backgrounds in property investment.
The purpose of this loan is to provide additional funds to invest into their other projects.
The Borrowers can’t get bank finance as short term commercial loans are not available.
Security on offer are two vacant blocks of land in Cessnock, a city in the Hunter Valley of New South Wales. The investment properties are on 1,790msq and 896msq land.
The exit strategy is to sell both properties to repay debt.
This loan has a 6 month pre-paid loan term, with the option for 3 monthly extensions.
Details
Security Property Valuation: $620,000
Loan Amount: $403,000 (First Mortgage)
LVR: 65.00%
Term: 6 months prepaid plus 3 monthly extensions
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