Second Mortgage

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  • Acceptable Borrowers:

– Company or individual (provided funds used predominantly for business purposes)

  • Loan Purpose: 

– Any worthwhile business or investment purpose (‘non-coded loan’)

  • Eligible Security*:

– Property (excluding rural)

  • Loan Amount:

– $50,000 – $500,000

  • Loan Term: 

– 1 month – 3 months

  • Maximum LVR: 

– Up to 70%

  • Interest Rate**: 

– From 20.0% per year

  • Establishment Fee: 

– Generally 1.0%-3.0%

  • Interest Payments:

– Monthly in Advance

– Capitalization possible within LVR guidelines

  • Valuation: 

– Forced Sale Valuation, commissioned by and addressed to Assetline Capital

  • Joint and Several Guarantees:

– All third party security providers.

– All directors (particularly shareholder directors) of the borrowing entity.

– Any corporate shareholder of the borrowing entity.

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