Commercial Lending with Marketplace Finance
Marketplace Finance
We are a multi award winning commercial finance brokerage firm providing a full service solution for referral partners
Customer:?Hospitality venue operator with 4 bars across the Inner West of Sydney
Funding need:?$850,000 loan in their SMSF to purchase a small shop to be converted into a Small bar under NSW licensing rules. Venue is very close to a large live concert venue and would capture patrons that are attending nearby pubs and restaurants prior and after shows.?
Issues faced: The clients venues are still ramping up turnover and this new venture is with a new partner that they have not operated with formally before. The new business partner had no substantial cash to contribute to the venue purchase however did have a substantial balance in their Super fund. The main clients financials are much stronger than the new partners.
Solution:?After the partners received the appropriate SMSF accounting advice, they established a new SMSF which in turn purchased the venue.?We sought out an appropriate funder to assist with a 65% LVR loan with the clients contributing cash from their personal SMSF's for this purchase. The funder we utilised was not concerned with the overall business picture, and concentrated on the strength of the SMSF and the asset they were purchasing. They used best use and market rent for the property being purchased.?
Other notes:?Our referrer will net over $4,400 in up-front income and share trail with us on this transaction. They referred the deal to us and concentrated upon their residential broking business. The clients continue to use the referring broker for their home loan business, and they aren't at risk of refinancing to a business bank. We logged over 180 calls and emails in the course of this deal over 5 months - time saving win for the referrer.
If you're looking to consistently expand your business into the commercial sector, bring in new clients and additional revenue streams whilst reducing run off, then we invite you to book a consult call with your Marketplace Finance Relationship Manager and see how we can assist you in identifying commercial opportunities for your business.
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Join us in welcoming to our group, Simone Bertalli.
Simone joins us at our Melbourne office and has a deep passion for finance and a broad range of experience in originating and co-ordinating real estate settlements from house and land to greenfield land and commercial real estate transactions.
Simone added, "My teenage self wanted to be a demonstrator water skier at SeaWorld, after a very short stint in the US teaching water skiing I returned to Melbourne and the real estate and finance world. My next adventure is my exciting role in Commercial?Finance.?I’m delighted to join the awesome team at Simplicity Melbourne.?Simplicity is full of entertaining, ethical, and dedicated people who go above and beyond for their clients."
We are excited to continue our expansion across the group and in particular, our Victorian base.