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.