John and Janette’s Business Loan – Success Story
John and Janette were looking for a fast business loan to help them improve some of the buildings at their commercial property. Certainly, they had previously tried to get finance through the banks although the banks were taking too long. As they needed to finish the construction and renovations within 2 months, they needed the funds quickly. As a result, they spoke to Loan Saver Network to find a second mortgage loan package for their project.
The Loan Saver Approach to specialist finance
John and Janette had a typical problem we find with many of our clients. Indeed, the banks have an unwillingness to lend to certain businesses or cannot meet tight deadlines. In John and Janette’s case, they simply didn’t have the income to service the new loan. However, the renovation was intended to improve the property for a higher return when sold; at which time the loan would be paid back. Consequently, there was no need for any loan payments or to meet any income requirements. However, the banks couldn’t see it this way.
Second mortgage loans
At the end of the day, we considered both caveat loans and second mortgages for what they needed. In the end, we helped establish a second mortgage business loan to fix up the property. They didn’t need an urgent settlement of 1 day, so a second mortgage loan facility was established.
John and Jannette made a substantial increase in the sale value. Indeed, the loan sat behind his existing lender and we arrange for the loan payments to be capitalised to the loan. As a result, John and Jannette could move on to their next venture with an increase in working capital to start.
What John and Janette Say about their experience:
We had used the bank many times before for various projects. However, for some reason, they didn’t like us anymore. Loan Saver was very easy to work with and didn’t bat an eyelid about what we needed. The new loan only took about a week before settlement. The process was very simple and in the end, we’ve finished the constructions and made a good profit.
Talk to the Experts in Debt and Finance Today- it only takes a few minutes. Contact Loan Saver Network on 1300 796 850 to discuss your finance or debt problem.