A prime bank client purchases a $4.2m development site. With the DA almost approved, after 12 months their bank at the last minute required an updated audit on the borrower. At 55% LVR facility in a prime location, his bank simply couldn't approve the loan.
After being referred to ACMF, we promptly settled within 5 business days at a rate of 8% pa, which is unheard of in the short term lending market.
Short-term settlements usually require a short-term lender that performs quickly but can be at high rates however ACMF had an investor requiring a quality borrower and quality security and happy to earn less (and sleep at night). A win, win for all.
Hawthorn VIC
2017
Short Term Loan
$2,100,000
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