Loan Update: Providing the Dough for a New Bakery
Scenario
The borrowers had backgrounds in operating a commercial bakery and needed a loan to purchase a factory in S.E Melbourne, VIC, for their bakery, which was relocating from a neighbouring suburb.
Why PMA?
PMA Solution
PMA being a pure asset lender did not require financials. PMA considered the freehold value and proceeded with the loan offer.
Exit
The exit strategy was successfully executed as the accountant completed the preparation of the financials, allowing for refinancing with a mainstream lender.
Details
Loan Amount: $700,000 ( First Mortgage)
Property Value: $1,000,000
LVR: 70.00%
Term: 3 months prepaid plus 9 monthly extensions
Broker Commission*: Referral Fee $7,500 + GST + Service Fee $10,500 + GST = Total $18,000 + GST
*with no clawback
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!)
