Short Term Business Funding Scenarios

Urgent re-finance required

THE SCENARIO:

Purchase vacant development block outer suburb Brisbane
Issues with existing lender & in need of an urgent refinance
Loan only needed for 3 months whilst development funding finalised through IBN Direct

OUR SOLUTION:

$460,000 loan provided at 65% LVR
15% pa for 3 months
Valuation was NOT required, nor were financials as relied on exit strategy
Development offer for $6.8 million also provided (minimal pre-sales)

If the banks aren’t revelling in your entrepreneurial spirit, don’t let them rain on your parade. Let us help!

We’re inspired, we’re driven and we have a solution to every funding need. Learn more about IBN Direct.

Alternative document for income servicing

THE SCENARIO:

Purchase operational equestrian centre – Gold Coast
Alternative document for income servicing
Broker had been to all banks and 2nd tier lenders

OUR SOLUTION:

$730,000 loan provided
70% LVR
11.75% pa for 12 months

Don’t be afraid to chase your dreams; let us find the solution to fund your project so you can make your mark!

Income from China

THE SCENARIO:

Purchase vacant development block Adelaide metro
Needed to settle urgently
Client income is in China
Loan only needed for 3 months whilst funds came from China

OUR SOLUTION:

$1 million loan
60% LVR
15% pa for 3 months only

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Valuation not required

THE SCENARIO:

Client needed urgent 2nd mortgages for 3 months
One of clients suppliers had gone into receivership
Clients needed to keep business purchases and subsequent sales flowing whilst alternative supplier sought

OUR SOLUTION:

$200,000 loan provided across several Victorian properties
A valuation was NOT required
3% per month settled within 2 weeks

$1.3 million loan needed for 6 months

THE SCENARIO:

Development block Brisbane.
Client in default with existing lender as had not been able to arrange refinance for construction funding.
Most lenders would not look at transaction due to defaults.

OUR SOLUTION:

Private lender sourced at 65% LVR.
15% pa.
$1.3 million loan for 6 months.
Refinanced within 10 days.
Valuation not required.

$150,000 required urgently for business acquisition

THE SCENARIO:

Client owned unencumbered property in Brisbane.
Needed $150,000 urgently for business acquisition.
Funds needed for 1 month only.

OUR SOLUTION:

Loan funded within 24 hours.
Valuation not required.
Financials not required.

Development block urgent settlement

THE SCENARIO:

Client needed to settle a development block urgently.
65% LVR required.
DA not in place yet.
Financials not available.

OUR SOLUTION:

$1,700,000 loan provided.
Settled in 10 working days.
14% p.a.
Lender and their solicitor worked through a weekend to ensure settlement happened in timeframe.
Client was able to keep hold of the block whilst they go through the DA process with council.

Preserved the Client’s Cash for DA process

THE SCENARIO:

Client purchased house in a suburb with a development overlay.
The property to be developed.
Mainstream lender required security be valued as a vacant development block (not a residential house).
Max lend for mainstream 60% LVR.
$690,000 purchase price.
Asset rich client.
2 week settlement period required.

OUR SOLUTION:

<strong>$6,000,000 loan sourced:</strong>
Low 6% rate for completed development.
Rental income as servicing.
Full refinance plus considerable amount of working capital.
<strong>$7,900,000 construction loan sourced:</strong>
For completion of 36 unit development.
11.25%pa.
69% LVR, based on GRV.
Pre-sales & financials not required for servicing.

Asset Lend

THE SCENARIO:

Completed high end sub-division (vacant land $2.5m per block).
No financials.
Capitalised interest required whilst selling.
Sales taking longer than expected.

OUR SOLUTION:

$2,150,000 loan.
6 month term with ability to roll over for 6 months.
18% pa.
Valuation not required.
6 months interest capitalised with provision for another 6 if needed.
Additional cash out provided for maintenance and marketing.
Asset lend.

Short Term Bridging Finance

THE SCENARIO:

The client had sold their residential property to a developer and subsequently purchased a new residence.
Both sale and purchase were unconditional, however, the developer asked for an extension for their settlement.
Vendor for the new purchase refused an extension so settlement needed to happen within 4 days.

OUR SOLUTION:

Short term bridging finance for $1.65m organised.
Application received on a Wednesday -formal approval same day, accepted the next day & mortgage documents ordered.
A valuation was not required.
Mortgage documents signed on Friday and settlement occurred on the Monday, exactly as requested.
1.5% per month for a 1 month term.

Financials not available

THE SCENARIO:

Client had several residential blocks as residual stock from previous land sub-division.
Financials not available.
Client needed to refinance existing loan and capitalise interest until blocks sold. Also needed additional cash-out as working capital for maintenance of development.

OUR SOLUTION:

$2,600,000 funded within 10 days.
Valuation was not required.
All interest was capitalised.
Working capital provided.
15% pa, with no minimum term.

Urgent cash out required

THE SCENARIO:

Clients had commercial loan with mainstream lender and needed cash out urgently to fund payments to outstanding creditors, including ATO debt.

OUR SOLUTION:

$530,000 funded at 4% per month for 2 months
Settlement occurred within 3 days of receiving application
Client then exited back to mainstream lender once affairs were in order

Why Choose IBN?

At IBN, we work closely with our panel of Funders, to move quickly on your loan application. We understand that ‘time is money’ and we make the loan process as seamless as possible. Our experienced staff assist you every step of the way with frequent communication on the loan progress.

We present options that others didn’t know existed

We search for solutions and enjoy the challenge of complex loans

We understand the complexities and requirements for a commercial loan application.

We explain our cost-structure from the outset so that you know what to expect.

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