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Accom's speedy $230,000 loan gives Port Stephens pearling industry a new lease on life.

Accom Finance, one of Australia's leading direct private lending firms, has just closed a deal to help fund a new pearling project near the Port Stephens area. With its usual promptness, Accom Finance was able to perform its due diligence within a couple of days and have the loan settled within just 1 week.

A new and substantial Development Application for 30 Hectares of pearling lease in Port Stephens had to be secured.

"This loan is the perfect example of our willingness to go anywhere the deal takes us," "Salamander Bay will offer an incomparable setting for the pearling industry that will be in high demand."

After lengthy government delays in getting their project approved, our borrower required a quick cash injection to help keep their project afloat.

Accom was delighted to offer a funding facility with the following features:

• Loan Size $230,000
• All funds secured by way of caveat
• Loan amount of up to 53% of the valuation of property securing facility
• Legals of 0.80% of the loan amount
• Brokerage was set and negotiated by the introducer
• 2 month facility
• Interest was capitalized and paid in advance

"Most traditional lenders will not consider funding such real estate projects such as Salamander Bay due to the risks and complexities that fall outside the scope of their expertise, we understood the value and importance of executing this loan for the pearling industry,". "Our expert staff can quickly assess a potential loan scenario, undertake the due diligence, and make a decision quickly to let the borrower know where they stand."

If you would like to learn more about any of our specialist 'hard money' lend products, please do not hesitate to call us on (02) 9960 7933.

ACCOM SETTLES DEAL IN RECORD TIME!

"The speed of execution of this deal highlights the strategic and competitive advantage Accom delivers over and above that of more traditional funders," "Our first mortgage bridging finance is a 'hard-money' lend, which main-stream funders would have taken a 2 or even 3 month period to settle. Our same day settlement has saved this borrower from certain eviction."

This exceptionally fast deal was settled in 5 hours due to the client providing Accom with the following resources:

• Valuation completed by RPG Valuers.
• The client made himself available to sign all necessary documentation within the hour.

Accom was delighted to offer a funding facility with the following features:

• Loan Size $232,000
• All funds secured by way of 1st mortgage
• Loan amount of 60% of the valuation of property securing facility
• Settlement period of 5 hours
• Legals of 0.80% of the loan amount
• Valuation at a cost of $250.00 (for valuation re-assignment)
• Brokerage was set and negotiated by the broker
• 2 month facility
• Interest was capitalized and paid in advance

Accom settled this deal in record time, setting the standard for others lenders at an almost unreachable level. The speed on this transaction insured the borrower kept the sheriff from executing a writ of possession as the authorities were literally knocking on the door. With this record-breaking deal the borrower was able to buy enough time to secure long term mortgage finance.

In just 24 hours of receiving a loan application, Accom Finance was positioned to settle a 1st mortgage bridging loan so that the client could complete his property purchase.

After receiving a call from the client’s broker, Accom commenced due diligence. We were able to have documentation out to the client by email within 3 hours. The client had already ordered a valuation with our panel valuer and provided this to us prior to settlement.

The client was offered a funding facility with the following features:

• Loan Size $500,000
• All funds secured by way of 1st mortgage
• Loan amount of 50% of the valuation of property securing facility
• Settlement period of 1 working day
• Legals of 0.80% of the loan amount
• Valuation at a cost of $463.50
• Brokerage was set and negotiated by the broker
• 2 month facility
• Interest was capitalized and paid in advance

“Our quick response to loan requests is a result of having an experienced team of professionals with the ability to make immediate credit decisions,” “The fact that Accom Finance is the actual lender means there is no middle-person between the broker and lender, as is the case with most caveat/bridging funders. When you call Accom Finance you will speak directly with the credit officer who knows exactly how much capital we can apportion to the pending loan facility.”

In just 2 days of receiving a loan application, Accom Finance settled a bridging loan so that our client could complete his property purchase.

After receiving a call from the client’s broker, Accom was able to commence due diligence immediately. We were able to have documentation out to the client within 3 hours, and the valuation conducted the next business day.

Our client was offered a funding facility with the following features:

• Loan Size $40,000.00
• All funds secured by way of Caveat
• Loan amount of 75% of the valuation of property securing facility
• Settlement period of 2 working days
• Legals of $1,100 of the purchase price
• Valuation at a cost of $660.00
• Brokerage of $660 was paid to the broker
• 3 month extendible facility
• Interest was capitalized and paid in advance
  

There are numerous advantages of dealing directly with the lender. These include quick responses to loan requests, diverse experience, flexibility in loan configuration, and the ability to devise innovative solutions toa broad range of lending scenarios."Conventional banks place a lot of obstacles, some necessary, many not, in the way of commercial borrowers," "These obstacles cause delays that kill deals and lead businesses to fail. Today’s business and economic environment is fast-paced, and time costs. Our ability to react quickly to market trends and opportunities is critical to business success and, as always, access to capital is the determining factor to that success."

Traditional bank refinances can take up to 8 weeks to settle. We can settle within 48 hours to bridge the gap. In solving a cashflow mismatch, the following requirements were identified:

• Amount of funding $40,000 (including line fees)
• Loan to Value Ratio (LVR) of below 80%
• The securing property was a residential property located in Sydney Metro
• Security property was currently under lease
• Settlement period of 2 days
• Loan term of up to 60 days

The client was currently undertaking a refinance, but was well short of working capital. We were pleased to offer and execute the following transaction:

• Loan amount of $40,000
• Legals of $1,100
• No valuation required, we were able to use the recently completed bank valuation
• Loan term of 60 days
• Upfront line fees of $0 (inc GST)
• Debt secured by way of registered caveat protecting a registerable 2nd mortgage over the residential premises
• LVR was 80%

Accom Finance was ready to settle within 48 hours of receiving the loan application

The following transaction executed recently by Accom Finance illustrates how flexible our funding products can be.

The client came to us directly requiring capital to meet a funding shortfall. The shortfall was on a prime development site located in Sydney's inner west. The following requirements were identified:

• Amount of funding $155,000 (including line fees)
• The required Loan to Value Ratio (LVR) was below 75%
• The securing property was commercial
• Security property was currently under lease (client was planning to redevelop site)
• Settlement period of 7 days
• Loan term of up to 6 months

After identifying a clear exit strategy, Accom Finance was pleased to offer and execute a loan facility with the following parameters:

• Loan amount of $155,000
• Legals of $1,100
• Assignment of bank valuation accepted ($0 valuation fee)
• Loan term of 180 days
• Debt secured by way of registered caveat protecting a registerable 2nd mortgage over the commercial premises
• LVR was 72.50% of the bank valuation

Accom Finance was ready to settle within 48 hours of receiving the loan application

Want speedy execution? Here is an example of how our "no hassle" CaBS Bridging Solution can really make a difference.
This deal came to us directly from a client. The following requirements were identified:

• Amount of funding $100,000 (including line fees)
• The required Loan to Value Ratio (LVR) was below 70%
• The securing property was a residential Dual Occupancy property
• Security property was currently under lease as well as part owner occupied
• Settlement period of 2 days
• Loan term of up to 60 days

The client was currently undertaking a refinance, but was well short of working capital. We were pleased to offer and execute the following transaction:

• Loan amount of $100,000
• Legals of $1,100
• No valuation required
• Loan term of 60 days
• Debt secured by way of registered caveat protecting a registerable 2nd mortgage over the residential premises
• LVR was below 50 % of estimation

Accom Finance was ready to settle and settled within 48 hours of receiving the loan application

On Tuesday the 15th of July Accom Finance received a call from one of our accredited brokers who required funding to meet a shortfall in working capital for a client.

The client had the following requirements:

• Required maximum funds given their current asset position
• 3 day settlement period
• Flexible facility which could give a 2 month loan term with the option to extend for a further 1 month

Accom was able to provide a funding facility with the following parameters:

• Loan amount of $384,000
• Settlement period of 3 working days
• Documentation within 2 hours
• Valuation fee of $0
• Upfront line fees of $0
• 2 month loan term with the option to extend for a further 1 month
• 80% Loan to Valuation Ratio
• If you or one of your clients are up against the clock and require a reliable source of bridging finance, then talk to Accom Finance.

The hallmark of today's loan market is tight money. If money is available at all, approvals are painfully slow. The options are few for the business person who is hard pressed and needs funds in a hurry. Yet, for those willing to pay higher rates, Accom can provide a funding solution.

The following client required funds to close out a lucrative business transaction.

In solving the funding shortfall, the following requirements were identified:

• Amount of funding $37,500 (including line fees)
• Loan to Value Ratio (LVR) of below 50%
• The securing property was a residential property located in Sydney Metro
• Settlement period of 2 days
• Loan term of up to 60 days

The client was currently undertaking a refinance. We were pleased to offer and execute the followingtransaction:

• Loan amount of $37,500
• Legals of $1,100
• No valuation required, we were able to use the recently completed bank valuation
• Loan term of 60 days
• Upfront line fees of $0 (inc GST)
• Upfront line fees of $0 (inc GST)
• LVR was below 50%
• Accom Finance was ready to settle within 48 hours of receiving the loan application
  

In just two days, Accom Finance, a direct private lender based in Sydney, turned around a $330,000 loan. This 11th hour rescue saved a property owned by a private individual of Canley Heights from bank eviction.

"Time had literally run out for this borrower,". "The borrower owed the bank just over $300,000 when we got an urgent call from the broker for help.

" After receiving the call from the broker we dispatched our own independent valuer. The property was a standard residential property located in Sydney’s Canley Heights. Our valuer assessed its market value as being $440,000.

Our distressed client was offered a funding facility with the following features:

• Settlement period of 5 working days
• Loan amount of 75% of the valuation of property securing facility
• Legals of 0.80% of the purchase price
• Valuation at a cost of $330.00
• Brokerage of 1% was paid to the broker
• 2 month non-extendible facility
• Interest was capitalized and paid in advance

Accom Finance has a long history of bailing out companies and individuals in financial trouble and devising innovative ways to solve their financial crises. The lender excels in loans covering a wide variety of financial and legal scenarios including successfully dealing with commercial property workouts, bank eviction situations, bankruptcies, and situations that require "out of the box" thinking.

Over the years, Accom Finance has amassed a reputation as a resourceful, key lender in commercial and residential real estate projects in New South Wales.

With its expertise in due diligence and risk assessment, Accom Finance is able to support commercial investments of virtually any type. Unlike conventional banks, Accom responds to loan requests rapidly and issues decisions immediately.

When a Sydney developer/businessman needed a quick bridge loan to complete his IPO (Initial Public Offering) and property development in Sydney, Accom Finance, a direct private lender based in Northern Sydney delivered a $431,000 bridge loan in record time.

“Our entire reputation is based on how responsive we are to our clients and the brokers who work with us,”. “Whether it’s turning around a loan commitment in 24 hours or less or helping clients to make loans work despite conditions traditional lenders would never consider, we take a proactive approach rather than the typical reactive attitude of conventional lenders."

Our borrower required urgent funding to complete the purchase of a development site in Sydney’s Eastern Suburbs. Further funding was also required to provide working capital for the soon to be public private company. Given the strength of the client and the type of security provided, Accom was able to accept a caveat protecting a second mortgage.

We were able to offer a funding facility with the following features:

• Loan amount of 77% of the valuation of properties securing facility
• Settlement period of 5 working days
• Legals of 0.80% of the purchase price
• Valuation was required for all securities
• Brokerage of approximately $4,741 was paid to the broker on a loan amount of $431,000
• 2 month non-extendible facility
• Interest was capitalized and paid in advance

If you or one of your clients are up against the clock and require a reliable source of bridging finance, then talk to Accom Finance.