Scroll through the below presentation to learn what IBN Private do best:
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The team at IBN regularly assists direct clients with individual financial needs through their solution based funding.
- Have you started your development with your own funds, fully expecting your existing funder to the party with any shortfall of funds required, but your existing funder has refused as pre-sales were not available and most recent financials had not been completed?
- Are you a first time developer with no pre-sales?
- Or a business owner with a commercial loan with mainstream funder and need cash out urgently to fund payments to outstanding creditors?
Read below for actual scenarios and our funding solutions:
Client had started a 36-unit development using their own funds, fully expecting their existing funder to come to the party with any shortfall of funds required. However, the existing funder was refused as pre-sales were not available and their most recent financials had not been completed. Client also owned a fully completed and leased residential development in the inner city.
- $6,000,000 loan sourced:
- Low 6% rate for completed development.
- 65% LVR (Loan to Value Ratio).
- Rental income as servicing.
- Full refinance plus considerable amount of working capital.
- $7,900,000 construction loan sourced:
- For completion of 36 unit development.
- 11.25% pa.
- 69% LVR (Loan to Value Ratio), based on GRV (Gross Realisation Value).
- Pre-sales & financials not required for servicing.
A first time developer purchased 10 units. Pre sales not available and financials were not up to date. Lack of experience also hindered application.
- Construction funding sourced for $2,700,000 at 11.25% pa, 70% LVR (Loan to Value Ratio) based on GRV (Gross Realisation Value)
- Very happy and relaxed client has commenced construction without the need for employing marketing agents and such.
- Tax returns were not required for servicing.
- Pre-sales not required.
Clients had commercial loan with mainstream funder and needed cash out urgently to fund payments to outstanding creditors.
- $530,000 funded at 4% per month for 2 months
- Settlement occurred within 3 days of receiving application
- Client then exited back to mainstream funder once affairs were in order
We are keen to hear your scenario and help you tackle the problem.
Find out more about how we can help [su_button url=”https://ibnprivate.com.au/for-clients/how-to-apply” background=”#294794″ size=”6″ radius=”0″]How to Apply[/su_button]
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