Loan Case Study – Mark

Loan Case Study Mark

Profile

  • Age – 37 years old
  • Occupation –Company Director for the last 12 years
  • ABN – last 12 years registered for GST.
  • Income – approx $150K p.a
  • Assets – House valued at $920K
  • Liabilities – Low doc loan $170K business loan $80K (secured against the home)
  • Credit Impairment – Paid commercial default listed on credit report for $64K registered in February 2009.

Background

Mark needs $360K for the purchase of a second warehouse to expand his business, plus an additional $75K for another truck so he can put on an extra delivery driver. Mark does not have his 2012 financials but he has told you that his profit has increased substantially to $280K.

Solution

Mark may qualify for the Low Doc Easy product – We can consider consolidation of low doc and business debts on our low doc products. Our funding products have no limit on cash out for acceptable purposes including purchasing property or vehicles.

Mark is able to choose from 3 different supporting document options either 6 months business bank statements OR 6 months BAS OR his Accountant can complete an Accountants letter in a template we provide.

Testimonials

Being self employed and extremely busy I didn’t have time to provide all the income documentation required for financing the recent purchase of another investment property. Redrock provided…

Michael P, VIC