SME Blog & News

Short Term Loan Open for Investment

Short Term Loan Open for Investment

SME Mortgage Group Pty Ltd Australian Credit Licence (ACL) 388003 has another opportunity for a direct investment in to a 2nd Mortgage agreement.

Please find set out below terms & conditions of the proposed loan in relation to security for the borrowing of by way of a second mortgage on the said property below

 Borrowers:                       A corporate entity                

Guarantor:                        Directors Guarantees                       

 Amount:                           $1,250,000 to $1,500,000 dependant on valuation.

 Investment Amount:     The entire amount or 3 parcels of up to $500,000 in a club arrangement.

 Security:                          Residential property – Penthouse Apartment – 29 Queens Road Melbourne            

 Estimated Value:           $5,600,000 -$6,000,000

 Current 1st Mortgage:   $3,000,000 to a major bank.

 Proposed LVR:               76%

 Term:                              12 months

 Investor Return:           18%        

 Interest:                         Paid monthly in advance

 Mortgage Extension:   6 months by mutual agreement and with 3 months’ notice

 Penalty interest rate

for late payments:         28%

 Early Termination:       Yes – No Penalty after first 3 months payments received           

 Legal:                              Transaction will be documented by a panel solicitor

 Valuation:                      To be completed by a panel valuer                    

 Security Documents:   A Loan Deed with supporting personal and corporate guarantees and a

                                          Lenders Agreement incorporating participating investors..

 Settlement:                    Immediate                      

 Purpose of Loan        

 This facility advance is a non-coded loan, it is specifically advanced for business purposes only of working capital debt, the funds are   not to be used for personal or private matters acknowledgment of this will be a requirement.

  

Contact:     Michael Pratt     Ph: 0417 335 488 This email address is being protected from spambots. You need JavaScript enabled to view it.

 

                                                               Or

                  

                   Neil McKay       Ph: 0407 790 566 This email address is being protected from spambots. You need JavaScript enabled to view it.

 

 The information is general product advice only and does not take into account the objectives, financial situation or particular needs of any person. You should consider whether this information is appropriate for you in light of your own objectives, financial situation and needs and consult with your financial advisor. All investment is subject to investment risk, including possible delays in payment, or loss of income and principal invested. SME Finance Group Pty Ltd its related entities or directors guarantee the performance of this loan or the repayment of monies invested.

 

 

 

 

 

 

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