Post by eeyore on Dec 16, 2021 14:20:42 GMT
New 36-month commercial term loan for Leamington S*** M*** U*** (PLL0952) has been announced.
Total loan: £430,000 LTV: 36.3%
Tranche A: £430k @ 7.0% gross
The purpose of the loan is to refinance the current lender (£145k) and to raise capital for business expansion to increase rental income.
The security is two properties, totalling 18 acres, operating as a storage facility with warehouses, hardstanding and undeveloped land for portacabins, containers and static caravans. There are currently twenty tenants, mostly individuals and sole traders.
The exit strategy is to refinance the loan at the end of its term.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Thursday 16-Dec).
Update: Proplend have confirmed that this loan has been fully funded by the Always-On allocation.
The loan was drawn down on 21-December and is due to mature on 21-Dec-2024.
Repayment in full (with Early Redemption interest) on 7-Feb-2023.
Total loan: £430,000 LTV: 36.3%
Tranche A: £430k @ 7.0% gross
The purpose of the loan is to refinance the current lender (£145k) and to raise capital for business expansion to increase rental income.
The security is two properties, totalling 18 acres, operating as a storage facility with warehouses, hardstanding and undeveloped land for portacabins, containers and static caravans. There are currently twenty tenants, mostly individuals and sole traders.
The exit strategy is to refinance the loan at the end of its term.
See the full loan request and valuation report for details which are available on the website.
Allocation of TrancheA funds for Always-On lenders has already taken place (Thursday 16-Dec).
Update: Proplend have confirmed that this loan has been fully funded by the Always-On allocation.
The loan was drawn down on 21-December and is due to mature on 21-Dec-2024.
Repayment in full (with Early Redemption interest) on 7-Feb-2023.