Aged Care Non-Construction/ Construction
Purpose: Fund acquisitions of existing accredited freehold facilities. Fund reinvestment in order to meet accreditation requirements. fund major renovations/ extensions to existing facilities or fund Greenfield construction of Aged Care facilities
Maximum Loan Amount:
60+ Beds: u-p to 65% of going concern valuation by a bank instructed valuer. Facilities >60 beds may be considered where part of a group.
Construction: Lesser of 75% development cost or up to 65% of pre-trading going concern value and 70% of “net amount” of uncollected accommodation bonds.
Max. Loan Tern
Non Construction : l O yea
Construction: 3 years
Non Construction: Fixed & Floating Charge (over all assets including rights and licences), Directors’ Guarantees.
Construction: Fixed & Floating Charge (over all assets). Tripartite Agreement between the Bank, client & builder. Directors’ Guarantees