Recent Transactions
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Trade Finance Facility
Purpose of Loan: To provide a trade finance facility to assist a local business with the importation of hardware product Loan Limit: 1st Mortgage - $200,000 Loan Term: Ongoing Facility Type: Trade Finance
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Landbank Facility (Non Bank) – Perth – Non-Income Producing Property
Purpose of Loan: To provide a facility against a future development property with no income Loan Limit: 1st Mortgage - $800,000 LVR: 1st Mortgage - 50% of as is value Loan Term: 12 months Facility Type: Commercial Loan Interest Rate: 6.50% per annum
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Bank Funding – Construction Loan (Builder/Developer) – No Presales
Purpose of Loan: To provide a construction facility with no presales via a main stream bank Loan Limit: 1st Mortgage - $2,100,000 LVR: 1st Mortgage - 75% of Total Development Costs excluding GST Loan Term: 12 months Facility Type: Construction Loan Interest Rate: 4.25% per annum Presales: Nil
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Short Term 2nd Mortgage – against substantially completed development project
Purpose of Loan: To provide a quick solution to a capital shortfall via a 2nd mortgage using a development property as security Loan Limit: 2nd Mortgage - $250,000 LVR: 2nd Mortgage - 85% of Gross Realisation including GST Loan Term: 6 months Facility Type: Short Term Loan Interest Rate: 24% per annum
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Logan Central Townhouses
Purpose of Loan: To fund the construction of 16 townhouses at Logan Central Loan Limit: 1st Mortgage - $3,300,000 LVR: 1st Mortgage - 80% of Total Development Cost excluding GST Loan Term: 12 months Facility Type: Construction facility Presales: 70% of debt cover
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7 x Luxury Units – No Presales
Purpose of Loan: To fund the construction of 7 residential units in Taringa with no presales Loan Limit: 1st Mortgage - $3,350,000 LVR: 1st Mortgage - 70% of Gross Realisation excluding GST Loan Term: 12 months Facility Type: Construction facility Presales: Nil
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Land Subdivision – No Presales
Purpose of Loan: To fund the construction of 12 residential lots with no presales Loan Limit: 1st Mortgage - $1,685,000 LVR: 1st Mortgage - 75% of Gross Realisation including GST Loan Term: 12 months Facility Type: Construction facility Presales: Nil
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1st & 2nd Mortgage – 80% of GRV
Purpose of Loan: To fund the construction of 12 units in Brisbane with no presales Loan Limit: 1st Mortgage - $3,243,000 2nd Mortgage - $250,000 LVR: 1st Mortgage - 80% of Gross Realisation excluding GST Loan Term: 12 months Facility Type: Construction facility Presales: Nil
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45 Residential Units – Brisbane – Builder/Developer
Purpose of Loan: To fund the construction of 45 residential units in inner Brisbane Loan Limit: 1st Mortgage - $11,760,000 LVR: 1st Mortgage - 80% of Gross Realisation excluding GST Loan Term: 24 months Facility Type: Construction facility Presales: 75% of debt cover
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Indooroopilly – 14 Units No Presales
Purpose of Loan: To fund the construction of 14 residential units in Indooroopilly Loan Limit: 1st Mortgage - $5,500,000 LVR: 1st Mortgage - 66% of Gross Realisation excluding GST Loan Term: 15 months Facility Type: Construction facility Presales: Nil
