$300K mid-renovation, after the banks said no
"An unencumbered asset, a cash flow gap, and contractors still active on site."
A renovation of an older residential property in Bellevue, on the outskirts of Perth, was well underway, contractors were active on site, and the property was unencumbered with clear title. However, a delayed property sale elsewhere created an unexpected cash flow gap.
Traditional lenders declined outright. A partially completed dwelling, a cash flow gap, and reliance on a future sale event fell outside standard risk appetites.
Solution: $300,000 facility secured against the Bellevue property, providing immediate working capital release to keep the renovation on track.
Outcome: Funded against the unimproved value. Contractor payments met, project completed, and property sold. No exit penalties.