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SETTLED - Commercial Bridging, Edgecliff NSW

    The borrower was seeking to refinance an existing private facility for $1.88m and a caveat taken with another funder for $500k which were both reaching their end of term.

    Struggling with a gap between repayment of a loan and receipt of a sum of money? Whether you're anticipating an asset sale, tax refund, or another injection of cash, short term problems require short term solutions. That's why we were eager to help this borrower avoid going into default with a commercial bridging loan.

    The borrower was seeking to refinance an existing private facility for $1.88m and a caveat taken with another funder for $500k, which were both reaching their end of term and needed to be repaid.

    The property has an established long-term lease in place and funds were sought for the gap until the property was to be sold. We were able to bridge this mismatch in potential settlement timing with a short-term loan of 6 months.

    We managed to provide funding within 7 days, allowing the borrower time to reach their desired exit - selling the property.

    The major banks are tightening credit, under pressure from regulators. Private lending is stepping in to fill the void...

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