Loan Amount: $4,800,000
Loan to Value Ratio (LVR): 100%
It’s well known that commercial loans secured against Commercial Property are generally limited to 70%, sometimes 80%. A lesser known fact is that commercial loans secured against Residential Property can be, in certain circumstances, 100% of the property’s value!
The business owner had just been awarded a major contract that was going to be very profitable over the next 3 years. The issue was they needed cash immediately to prepare equipment to complete to complete the contracted work.
York Finance negotiated a loan equivalent to 100% of the business owner’s propert, enabling the business to complete its work and receive the rewards from the major contract.