Over the years we have successfully funded many Property Developments, the following are a small selection for your review:

Our client was apparently advised by NAB to commence construction and seek finance when he had expended most of his funds.

When he approached the bank the loan manager had moved on and NAB declined to assist.

The introducing broker submitted a proposal to a private lender and they were dragging their feet and it was become increasingly difficult for the developer.

We were asked to provide an URGENT short term bridging facility for 3 months to keep construction progressing.

Solution

We approved and funded via one of our private investors the bridging finance required to keep the project moving in a matter of days.

It also became apparent that the private lender that our client was talking to could not deliver, so we arranged the refinance and construction facility to complete the project through one of our investors.

Our client purchased 2 residential dwellings with DA approval for a 25-lot land subdivision in south east Queensland.

Their existing bank would not provide additional funding to necessitate completion of the subdivision, despite the fact they had financed the initial purchase.

Solution

We secured a facility that allowed our client to successfully complete the project within 3 weeks and refinanced it upon completion to a major lender.

Client successfully obtained presales during the later stages and held the remaining stock.

Our client received an unexpected tax assessment for $50k which was due within 3 weeks.

Given the nature of the liability and quick turnaround time required, their existing bank was unable to assist despite the value of their security.

Solution

At GCC, we provided funding for a 3 months short term loan against the client’s unencumbered security property.

Our clients were in the process of building an investment property in South East QLD.

They were self-employed tax specialists for over 20 years, and despite their minimal outstanding debt, their existing bank would not provide funds, given the property was under construction.

Solution

At GCC, we saw the value of their project and were more than happy to help, lending our client the $180k needed to complete the dwelling.

Our Western Australian-based client was looking to secure short term funding for prepayment of location, sub regional security property and the timeframe involved.

Solution

At GCC, and we were able to provide short term funds against the security property to repay existing liabilities.

This allowed the client sufficient time to source alternative long-term finance over the regional investment security property.

Funding request is for a two month bridging loan to assist the borrower with the purchase of a commercial property in Box Hill, Victoria for $5.30m.

Borrowers has sold an existing commercial property in Box Hill for $3.88m with settlement due and hence a bridging facility is required given the shortfall between funds required and funds received until the sale is finalized.

Solution

Payout is from the settlement of existing investment property for $3.88m which is under contract (with 10% deposit held) and due for finalization.

Current debt is $1.25m leaving ample funds ($2.63m) to repay the requested bridging facility. Funding request is recommended, given sales contracts in place, valuations held and ample net asset of Borrower.

The client is an owner builder who is building two homes on the northern beaches whereby both properties will be worth well over $2M once completed.

To complete the properties the client needed just under $500,000. The existing lender was unwilling to lend any further funds to complete the project and we were approached due to the fact we had experience in the space.

Solution

After doing our due diligence and visiting the property it was obvious this would be a worthwhile project to be involved and funding was provided.

Our client purchased a new home in bayside Melbourne for over $2.5M but had not yet listed or sold their current property.

The client was very transparent to the vendor telling them that they had not done this as this was the home they wanted and had financial approval in place.

As a token of goodwill, they paid a 15% deposit on the new home but due to the early settlement the client needed a bridging loan, or the vendor would rescind.

Solution

We arranged finance for our client very quickly and the new property was settled within time and within budget.