Prime Finance

Call: 1300 130 538

Bridging Loan

Bridging Loan

Prime Finance are specialists in the provision of high value short term loans with terms unmatched in the marketplace. When you find yourself needing finance whilst waiting for a property to sell, it is likely you need Bridging Finance. A private bridging loan is a sum of money lent by a lender to cover an interval between two transactions, typically the buying of one house and the selling of another.

Business Loan

Business Loan

Short Term Business Loans are used by thousands of businesses each year Australia wide, who need urgent access to large sums of money. A business loan needs to be repaid by the company or individual according to the loans terms and conditions. It can be frustrating if your invoices are going unpaid. When it has been months, the impact on your cash flow is going to become more and more pronounced.

Commercial Loan

Commercial Loan

A commercial mortgage is a mortgage loan secured by commercial property, such as an office building, shopping centre, industrial warehouse, or apartment complex. The proceeds from a commercial mortgage are typically used to acquire, refinance, or redevelop commercial property. Also, a commercial loan is a debt-based funding arrangement that a business can set up with a financial institution.

Bridging
Loan

Prime Finance are specialists in the provision of high value short term loans with terms unmatched in the marketplace. When you find yourself needing finance whilst waiting for a property to sell, it is likely you need Bridging Finance. A private bridging loan is a sum of money lent by a lender to cover an interval between two transactions, typically the buying of one house and the selling of another. Waiting to sell an existing property, but found the perfect ‘next’ property? There is a way to ‘bridge’ the gap. A private bridging loan may also be used to purchase an investment property with the loan repaid when the investment property is refinanced.

Business
Loan

Short Term Business Loans are used by thousands of businesses each year Australia wide, who need urgent access to large sums of money. A business loan needs to be repaid by the company or individual according to the loans terms and conditions. It can be frustrating if your invoices are going unpaid. When it has been months, the impact on your cash flow is going to become more and more pronounced. Effective financing is the foundation of any good company. Some businesses use their business loans to pay towards office supplies, wages & super, business projects, cash flow, purchasing an office etc.

Commercial Loan

A commercial mortgage is a mortgage loan secured by commercial property, such as an office building, shopping centre, industrial warehouse, or apartment complex. The proceeds from a commercial mortgage are typically used to acquire, refinance, or redevelop commercial property. Also, a commercial loan is a debt-based funding arrangement that a business can set up with a financial institution. The proceeds of commercial loans may be used to fund large capital expenditures and/or operations that a business may otherwise be unable to afford.

Second Mortgages from $50k to $500k

Residential Property, Bridging Loan, Business Loan & Commercial Loan

Locations

 Australia wide

LVR

Major Cities: Up to 80.00% LVR

Regional Cities: Up to 75.00% LVR

Rural / Destination: 70.00% LVR

Loan value to be inclusive of all capitalised interest and fees incurred during the loan period.

Interest Rates
LVR Rate
70% LVR 12% P.A.
75% LVR 12% P.A.
80% LVR 12% P.A.

Upfront Fees

 Legal and valuation fee only

Default Fees

 5% p.m.

Terms

Minimum 1 month to 1 year

* Where minimum of 1 month to 1 year can agree to a shorter term

Amount

 $50k - $500k

Security

 2nd Mortgage

Exit Strategy

 Each loan on its merits

Valuation Methodology

 All valuations must be on an 'as is basis' where the residual land value relating to a development scheme is ignored.

Residential Property $0.5m - $20m

Locations

Major Cities: Sydney (50kms), Melbourne (35kms), Brisbane (20kms), Gold Coast (20kms), Canberra (10kms)

Regional Cities: Newcastle, Wollongong, Geelong, Central Coast (NSW)

Destination: Byron Bay, Southern Highlands, Mornington Peninsula, Noosa

Note: Regions / suburbs other than the above to be considered on a case-by-case basis

LVR

Major Cities: Up to 75.00% LVR

Regional Cities: Up to 65.00% LVR

Rural / Destination: 55.00% LVR

Loan value to be inclusive of all capitalised interest and fees incurred during the loan period.

Interest Rates
LVR Rate
Below 45.00% Higher of 11.95% and 785bps margin over RBA Cash Rate
45.01 – 50.00% Higher of 12.95% and 885bps margin over RBA Cash Rate
50.01 – 60.00% Higher of 13.95% and 985bps margin over RBA Cash Rate
60.01 – 65.00% Higher of 15.95% and 1185bps margin over RBA Cash Rate
65.01 – 70.00% Higher of 17.95% and 1385bps margin over RBA Cash Rate
70.01 – 75.00% Higher of 19.95% and 1585bps margin over RBA Cash Rate

RBA Cash Rate Floor to be 3.60%

Default Fees

 0.05% p.m. to be deducted from the Manager's Default Management Fee

Terms

Minimum 6 months*

* Where minimum of 6 months is not achievable, Prime finance can agree to a shorter term where Prime finance is granted 1.5% of upfront fee (on a pro rata basis relative to invested amount).

Amount

 $0.5m - $20m

Security

2nd Mortgage

First or second ranking PPSR / GSD over the Borrower Specific

Security Deed over shares of the borrower (where relevant)

Personal Guarantee

Any other security reasonably required by the investor.

Exit Strategy

An exit must be specified. Exit type requiring discussion to include:

  • Where an exit is reliant on refinance via a construction facility where the typical CPs have not been met or is unlikely to be met during the loan term.
  • Where an exit is reliant upon a third-party lender and the loan is unlikely to suit loan criteria.
  • Payment coming from realisation or liquidity event outside of the security package under the loan.

Senior Lender Profile

 Senior lender / 1st Mortgagee must be either a bank / ADI or bank / ADI like lender in terms of interest, fees & covenants (e.g. Pepper, Resimac, Liberty etc.)

Valuation Methodology

 All valuations must be on an 'as is basis' where the residual land value relating to a development scheme is ignored.

Strata or Company Title

Where a property is strata or company title:

  • The strata minutes or equivalent for the past two years must be provided for review.
  • Latest set of financials.
  • Warrant from Borrower that there is no loan owing by the body corporate or equivalent.

Commercial, Industrial, Retail $1m - $5m

Locations

Major Cities: Sydney (50kms), Melbourne (35kms), Brisbane (20kms), Gold Coast (20kms), Canberra (10kms)

Regional Cities: Newcastle, Wollongong, Geelong, Central Coast (NSW)

Destination: Byron Bay, Southern Highlands, Mornington Peninsula, Noosa

Note: Regions / suburbs other than the above to be considered on a case-by-case basis

Other

Properties must be leased to an unrelated third party of suitable quality.

Where leased to a related party, criticality of the property to ongoing operations must be evident alongside verification of solvency of lessee.

LVR

Major Cities: Up to 65.00% LVR*

Regional Cities: Up to 50.00% LVR

Loan value to be inclusive of all capitalised interest and fees incurred during the loan period.

Minimum capitalisation rate accepted on Valuation to be a minimum of 6.25% for Commercial and Retail, 5.50% for Industrial

Interest Rates
LVR Rate
Below 45.00% Higher of 12.95% and 910bps margin over RBA Cash Rate
45.01 – 50.00% Higher of 13.95% and 985bps margin over RBA Cash Rate
50.01 – 55.00% Higher of 15.95% and 1185bps margin over RBA Cash Rate
55.01 – 65.00% Higher of 17.95% and 1385bps margin over RBA Cash Rate

RBA Cash Rate Floor to be 3.60%

Default Fees

 0.05% p.m. to be deducted from the Manager's Default Management Fee

Terms

Minimum 6 months*

* Where minimum of 6 months is not achievable, Prime finance can agree to a shorter term where Prime finance is granted 1.5% of upfront fee (on a pro rata basis relative to invested amount).

Amount

 $1m - $5m

Security

2nd mortgage

First or second ranking PPSR / GSD over the Borrower Specific

Security Deed over shares of the borrower (where relevant)

Personal Guarantee

Any other security reasonably required by the investor.

Exit Strategy

An exit must be specified. Exit type requiring discussion to include:

  • Where an exit is reliant on refinance via a construction facility where the typical CPs have not been met or is unlikely to be met during the loan term.
  • Where an exit is reliant upon a third-party lender and the loan is unlikely to suit loan criteria.
  • Payment coming from realisation or liquidity event outside of the security package under the loan.

Senior Lender Profile

 Senior lender / 1st Mortgagee must be either a bank / ADI or bank / ADI like lender in terms of interest, fees & covenants (e.g. Pepper, Resimac, Liberty etc.)

Valuation Methodology

All valuations must be on an 'as is Basis' where the residual land value relating to a development scheme is ignored. The Investor may choose to accept a valuation on an 'as-is site related valuation' on a case-by-case basis.

Minimum capitalisation rate accepted on Valuation to be a minimum of:

  • 6.25% for commercial
  • 5.50% for industrial
  • 6.25% for retail

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Igniting your business growth

Fuel your business aspirations with Prime Finance Business Loans, where we understand that capital is the lifeblood of growth. If you’re looking to expand, innovate, or simply navigate through challenging times, our business loans and debtor financing facilities are tailored to meet your unique needs.

What is a business loan?

Transform your business and beyond. Short Term Business Loans are used by thousands of businesses each year Australia wide, who need urgent access to large sums of money. A business loan needs to be repaid by the company or individual according to the loans terms and conditions. It can be frustrating if your invoices are going unpaid. When it has been months, the impact on your cash flow is going to become more and more pronounced. Effective financing is the foundation of any good company. Some businesses use their business loans to pay towards office supplies, wages & super, business projects, cash flow, purchasing an office or storefront, advertisement expenses etc.

Reasons to take out a business loan

Is your business ready to take the next leap? With 20 years of experience, Prime Finance understands the hassle of jumping through the hoops just to apply for a business loan at a bank, let alone the wait time for getting an approval, contact us today. Prime Finance’s rate of 1% for all business loans is the most competitive rate in Australia. Purchase of a business Purchase of new plant or equipment Purchase of stock Paying tax or other work related expenses eg. wages, legal fees, advertising etc Business repairs and maintenance Working capital Council approvals/Head works Bridging the unexpected “gap” Funding a commercial or industrial property purchase when the bank cannot settle in time. Funding a residential investment property purchase where the property is to be owned in a trust or company name Prime Finance business loans can be used for a short- term or intermediate term.

Call Now: 1300 130 538
Call Now: 1300 130 538

Reasons to take out a business loan

Is your business ready to take the next leap? With 20 years of experience, Prime Finance understands the hassle of jumping through the hoops just to apply for a business loan at a bank, let alone the wait time for getting an approval, contact us today. Prime Finance’s rate of 1% for all business loans is the most competitive rate in Australia. Purchase of a business Purchase of new plant or equipment Purchase of stock Paying tax or other work related expenses eg. wages, legal fees, advertising etc Business repairs and maintenance Working capital Council approvals/Head works Bridging the unexpected “gap” Funding a commercial or industrial property purchase when the bank cannot settle in time. Funding a residential investment property purchase where the property is to be owned in a trust or company name Prime Finance business loans can be used for a short- term or intermediate term.

Call Now: 1300 130 538