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SETTLED - Construction, Penrith NSW

    Assetline Capital settles loan after last-minute pull out from bank in Penrith, NSW

    When it comes to construction finance, banks are very preoccupied with pre-sales, also known as 'off the plan' sales. Pre-sales provide reassurance that the borrower's exit strategy is within reach. 

    But what if you're dealing with a development project with no pre-sales? If the bank lets you down, it can throw your project completely off track.

    This developer had hit a major dilemma. After months of working with a major bank, and after committing $2,000,000 of their own equity to project, the bank was still unable to commit.  Faced with endless delays and having to tip in more and more equity, the entire project was in jeopardy. 

    Assetline was able to assess the project and commit to funding the entire project without pre-sales.  This gave the borrower certainty to push full steam ahead with the development.

    Have you been presented with a great development finance scenario, but no presales to take to the mainstream banks? Get in touch for an obligation-free chat.

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