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

Security:

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

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