Refinance and Working Capital- Bridgewater, TAS
The Borrowers have a history of property investment and own a warehouse and storage building.
The purpose of this loan is to refinance an existing loan and to provide additional working capital to their business.
The Borrowers can’t get bank finance as their financials do not support further borrowing.
Security on offer is a commercial property in Bridgewater, a suburb of Hobart, Tasmania and consists of an operational warehouse and storage building on 1.18 acres of land.
The exit strategy is to refinance to another lender or extinguish debt from trading cashflow.
Details
Security Property Valuation: $560,000.00
Loan Amount: $320,000.00 (First Mortgage)
LVR: 57.14%
Term: 24 months plus 3 monthly extensions
