There is sustained demand from developers for sizeable tickets to refinance and boost cashflow, like this recent scenario:
SCENARIO: A developer required ~$4.7M to refinance a private loan, payout credit defaults and working capital to smooth out lumpy cashflow. Aquamore was selected for the deal due to our quick turnaround time and flexible terms offered (Lite Doc, supported by an accountant’s declaration).
AMOUNT: $4,673,500
SECURITY: Residential and commercial property
RATE: 9.55%p.a. (no line fee or monthly management fees and no commitment/ work fee payable)
LVR: 70%.
TERM: 12 months
LOAN TYPE: Lite Doc
EXIT STRATEGY: Sale of securities and refinance
