A Divine Private Finance Deal For June 2020
Saving our client substantial funds and enabling their project to move forward,
Back Story & Client Goal:
A new client had purchased an old church with room for two new townhouses. The aim is to create a townhouse environment with the repurposed church as its centerpiece. The client had borrowed $550,000 from a high-interest lender and was paying $3000 a week interest at a rate of 30% per annum.
While these rates can be commercially justified in some circumstances, in this case our client was paying far too high a rate to be sustainable.
We arranged private funding to take out the existing loan and the savings are over $1800 per week. Private finance solution working well. It took four weeks to get this through when the major banks would’ve taken two or three times this and were refusing to do the financing in any case.
The client was happy and is moving on with the next stage of the project which involves the completion of a DA and the construction of two new townhouses on the site. We are providing the funding for the development approval.
*Images, namely the church is for illustrative purposes only – Names and images maybe changed to protect the privacy and interests of the client.
Do you feel Private Finance could be the solution for you?
We are more than happy to review your individual scenario to see if we can help.