PMA Supports Transportation Business Refinance and Grow Through Fast Funding
Scenario
The borrowers have backgrounds as commercial brokers and operate a school bus contract business, along with several smaller buses used for weddings and tourist transport. Established in March 1962, the business is a long-standing, family-run enterprise passed down through generations.
The purpose of this loan is to refinance existing business loans, clear an overdraft facility, and purchase an additional vehicle to support ongoing operations and business growth.
The security offered is a residential property set on a 10,119sqm allotment, featuring a four-bedroom, two-bathroom brick home with four parking spaces. Built in 1990, the property provides strong residential backing for the facility.
Why PMA?
The borrowers were unable to secure traditional bank financing as their financial statements for the past two years had not yet been finalised.
PMA Solution
We were able to understand clearly the client’s finance requirements and provide a boost to their cash flow through the provision of a 6 month caplitalised interest loan with the option for 6 monthly extensions.
Details
Loan Amount: $617,500 (First Mortgage)
Property Value: $950,000
LVR: 65.00%
Term: 6 months prepaid plus 6 monthly extensions
Broker Commission*: $13,586
*with no clawback
Exit
The proposed exit strategy is to refinance into a long-term business loan once updated financial statements become available.
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!)
