PMA Consolidates Multiple Existing Loans to Allow Borrowers to Move Ahead with Business Plans
Scenario
The Borrowers had a long-standing background in operating a fencing and contracting business, with a strong focus on the equine industry.
They required funding to consolidate existing debts by paying out multiple loans, which in turn released caveats over their property and equipment. This allowed them to proceed with the sale of unused assets.
The security was a residential property located in Tasmania, situated on 79,350m² of land. The property included a residence with sweeping views of surrounding hills, valleys, and natural stone formations.
Why PMA?
The Borrowers were unable to obtain traditional bank finance as their financials had not yet been finalised.
PMA Solution
PMA was able to provide a loan to payout all of the creditors and give the client time to get back on their feet and move forward positively with their financial situation
Details
Loan Amount: $156,500 (First Mortgage)
Property Value: $900,000
LVR: 52.17%
Term: 12 months prepaid plus 3 monthly extensions
Broker Commission*: $3,444
*with no clawback
Exit
The exit strategy was to sell unused equipment and refinance the remaining 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!)
