First Home Buyers… who had only $6,000 in savings managed to get into their first home with the assistance of one of their parents.
Owner builder… who had a partially finished property in Caroline Springs came to us looking for around $190,000 to finish the construction. All the majors and about 10 other lenders would not look at his situation because he was an owner builder and the home was only partially completed. We were successful in getting him finance of $265,000 to finish the build. The property is now rented for $350 PW.
Single mother…with 2 children was renting and recently separated.
She wished to borrow $170,000 to finance the construction of a property in Drouin with limited income.
Obtained a loan of $165,000 which was enough to complete the build and she now has a home for her family again.
Builder…looking for a line of credit so that he could make the most of opportunities as they arose. Income in this industry is up one year and down the next. Refinanced a small loan and obtained a line of credit for $1.1M to cater for his ongoing needs all based on one year’s tax returns.
Manufacturer….. was looking for a capital injection to his business of $500,000 to fund further interstate expansion. Existing lender of 30 years was not inclined to help. Refinanced existing facilities of $5.1M with a term loan of $3.8M, commercial bill of $2M and equipment finance limit of $1M. This was secured by factory valuation of $2.1M, directors homes with the remainder being a cash flow lend.
Discharged bankrupt… was looking to sell their existing home and downsize so they could pay out existing debt. Numerous lenders declined and we managed to obtain a loan of $380,000 to set them up in a new home.