These challenging times can be particularly tough for business owners and property professionals. However, even in a constrained credit environment, there are opportunities for growth.
CLIENT SCENARIO #1
Why did this client need our funding: Property investor undertaking a renovation project needed funds to complete their project and add value to their property. The bank was taking too long to provide support.
Amount: $150,000
Industry: Property investor
Location: Auckland
LVR: 60%
Type of security: Second mortgage over investment property behind the bank.
Path to repayment: Revalue and refinance.
Why Merx: Quick decision, hassle-free cash to help add value to their property.
CLIENT SCENARIO #2
Why did this client need our funding: Business owner on the growth path needed funds to support further business growth. The bank wouldn’t fund further than 65% of the value of their house and the business was growing faster than the equity in their home.
Amount: $350,000
Industry: Construction aligned – yes, a construction business on the growth path!
Location: Auckland
LVR: 75%
Type of security: Second mortgage over residential property plus general security over business assets.
Path to repayment: Continued profitable trading will see principal and interest paid monthly.
Why Merx: Pragmatic and quick credit decision, and funding with flexible payment options. We got the money moving, enabling the client to get back to growing their business.
CLIENT SCENARIO #3
Why did this client need our funding: Property investor seeking to purchase a new commercial investment asset – it was a “good buy.” The bank made promises but provided no certainty of approval. The client needed to get on and settle the purchase to get hold of this opportunity.
Amount: $450,000
Industry: Commercial property investment
Location: Auckland
LVR: 55%
Type of security: Suburban commercial / retail.
Path to repayment: Refurbish, re-lease, and refinance.
Why Merx: We were quick to understand the opportunity and provided an approval within a day – we know a good deal when we see it. This client just needed our fast, flexible, and simple solution to help secure the opportunity.