Commercial Loans for medicos

Under a Notice to Complete?

Fast Commercial Finance

Are you under a notice to complete?

We have a lender who settled the following deals:-

 

Cash Out Facility – $3m Sydney

Pending completion of an 8 unit construction in western Sydney developer needed to cash out equity to start on his next development. The final occupational certificates and strata plan had not been issued.  The lender approved a facility at a 75% LVR.

Time Frame. The lender was able to settle within 3 days from initial application.

Exit strategy. Developer sold the properties at a very good profit in the first weekend.

 

Notice to complete – $1.8m Central Coast

Developer had contracted to purchase land north of Sydney to construct over 80 units.  He had some delays with the incoming Construction lender and ran the risk of forfeiting their 5% deposit.

Time Frame. Lender was able to settle in 4 days from initial application on a 70% LVR.

Exit strategy. The developert will refinance with his construction funding  over the next 2

months.

Company Restructure – $4,500,000

Lender was able to provide a facility to enable the borrower and his advisors to restructure the companies and trade profitably in the future.  The security was made up of Plant and Equipment and 2nd mortgages.  70% LTV Ratio

 

If you facing receivers, or needing commercial finance quickly, then call us.

 

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