What a crazy month it's been here at Secured Lending! It seems like the current demand for private commercial funding has picked up (and in full force) as we have been inundated with loan applications from our ever expanding referral network.
So what have we recently funded in the current crazy funding markets...
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Bridging Finance to Purchase a Property
1st Mortgage - $6M
The client came to us needing urgent funds for a next day settlement. A number of our competitors had wasted the Borrower's time having issued terms sheets, having received upfront payments and then decided the only thing they liked about the deal was the upfront payment.
In order to meet the funding deadline, we sent our agents to inspect the property and related director properties immediately. The exit of the facility will be a refinance and working capital release from receivable finance from one of our trusted receivable funding providers.
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ATO Wind Up
1st Mortgage - $300K
This client had been trying to obtain a payment arrangement with the ATO to resolve a pending wind up hearing against her cleaning company. The Borrower was overwhelmed and incredibly stressed out as she had exhausted all other avenues to obtain finance.
After a conversation with one of our team members, we managed to determine the best possible loan structure to ensure the dismissal of the pending proceedings and a surplus of funds to assist with working capital.
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Partly Completed Developments
2nd Mortgage - $1.8M
The client needed funds across three commercial developments due to cost blow outs over the last two months. As a result of this, he was behind in paying his contractors which was only delaying works further.
Our expert property team inspected the sites and assessed the funding status of each development. After a consultation with the Borrower, we formatted a loan facility to suit the Borrower's needs, which also accommodated for the possible fluctuation in future costs. We funded within 48 hours.
If you need no fuss, lightening fast, no games or monkey business funding up to $10 million, then wait no longer!
Keen to know more. Check out the following links:
- Typical Loan Scenarios we fund;
- OurProduct Matrix; and
- Our Lending Process