CLIENT SCENARIO #1
Why did this client need our funding: Funds required to complete a subdivision, section has sold unconditionally and will settle once the title has been issued.
Amount: $100,000
Industry: Residential property developer
Location: Auckland City
LVR: 65%
Type of security: Second mortgage over residential property
Path to repayment: Funds from settlement of section once subdivision is complete.
Why Merx: Quick decision and flexible funding structure, aligning with the client’s plan.
CLIENT SCENARIO #2
Why did this client need our funding: Property developments rarely come in on time and on budget. This client needed funding to rebalance their bank funding arrangement after encountering cost over-runs on a residential property development.
Amount: $150,000
Industry: Property development
Location: Auckland and Hamilton
LVR: 55%
Type of security: Second mortgage over separate, stand-alone residential property
Path to repayment: Completion and sell down of residential property development project.
Why Merx: Practical solution to completing a project. We considered the matter and provided an ‘out-of-the-box’ solution that helped the client get ahead.
CLIENT SCENARIO #3
Why did this client need our funding: Support working capital for business growth. Due to the 20 day delay of processing payments for services performed onsite, working capital resources to fund business growth had capped out.
Amount: $115,000
Industry: Mobile healthcare
Location: Auckland
LVR: 85%
Type of security: Second mortgage over residential property
Path to repayment: Principal and interest payments from business cashflow.
Why Merx: Practical solution outside the ‘Bank Box’. We delivered a solution that aligned with our client’s actual funding needs.