Independent Supermarket

Purpose: This policy is limited to IGA and Footwork’s groups. Finance is available to cover refurbishment of existing store and/or purchase of existing store and superannuation contributions.

Maximum Loan Amount: 

Purchase: Up to 50% of purchase price. Refurbishment: Up to 50%

of key balance sheet items + 80% EBIT.

Max. Loan Term:

Purchase: 15 years

Refurbishment: 5 years

Leasehold: Lesser of remaining lease term or 10 years

Security: Fixed and Floating Charge and Directors’ Guarantee (company borrowers), Bill of Sale for Sole Traders/Partnerships . First mortgage over any real property . Mortgage over lease or right of entry for 3rd party landlords. Other tangible security where required.

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