PMA Delivered $756K Non-Bank Loan for Special-Purpose Commercial Property
Scenario
The Borrowers, with over 25 years of experience in construction and design across both residential and commercial sectors, were seeking funding to complete the purchase and redevelopment of a commercial property.
The security for the loan was a commercial asset on 3,136 sqm of land, featuring a two-storey building that was earmarked for redevelopment.
Why PMA?
Traditional bank funding was not an option due to the special-purpose nature of the property.
PMA Solution
PMA was able to provide the client with a 60% LVR and meet settlement timeframes.
Details
Loan Amount: $756,000 (First Mortgage)
Property Value: $1,260,000
LVR: 60.00%
Term: 12 months prepaid plus 3 monthly extensions
Broker Commission*: $8,316.00
*with no clawback
Exit
The exit strategy was to refinance into a construction 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!)
