22 June, 2010
Over the last year we’ve seen an improvement in the economy but no improvement in the ability to borrow money. This has been the subject of a number of my newsletters including the last GLOBAL VIEW – to read it click here
One area of finance that has been particularly hard to access is loans in the $2 million to $5 million range. Banks seem to be the sole source of these and their criteria are tough. There are few non-bank lenders, if any, who are willing or able to make loans of this magnitude.
Well – as hinted in my last GLOBAL VIEW – I’ve got access to a private lender who is interested in providing a limited number of loans in this range. The general criteria is loans the banks are reluctant, or unable, to do – often as a result of policy decisions. For example a particular proposal may fulfil the bank’s criteria but any further loans may exceed their comfort zone for total lending to that borrower.
There are no strict rules as to what the lender will consider but the following are some guidelines.
This is a great opportunity for borrowers seeking new loans or who are looking to refinance to reduce their exposure to their current lender.
If you have something you think might qualify give me a call. You can get me on mobile any time.
Global Pacific Corporation Limited
112 Gladstone Road, Parnell,
P O Box 3229, Auckland, New Zealand
Phone +64 9 303 3700, Fax +64 9 303 3031
Mobile +64 21 902 004
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